Lyon-based Dougs, an accounting and financial management platform for small businesses, has raised €50 million from growth equity firm Expedition Growth Capital, as Vestbee was informed.
- Founded in 2015, Dougs provides accounting, tax, legal, payroll and financial management services to small businesses through a technology platform supported by accounting and legal professionals.
- The company serves more than 50,000 businesses and generates over €50 million in annual recurring revenue (ARR). It has been profitable since its inception and has grown by more than 50% annually over the past decade.
- Dougs has developed its technology in-house and uses AI to automate bookkeeping and other accounting workflows.
Details of the deal
- With the fresh capital, the company plans to expand its AI capabilities, including developing systems that can generate financial statements autonomously for review and approval by chartered accountants.
- The funding will also support the expansion of its accounting, legal and financial management services and strengthen its presence across France through a network of local partners. Dougs aims to reach €100 million in ARR and 100,000 customers in the coming years.
