Dougs, a Lyon, France-based digital accounting and financial management company, has raised €50 million in growth funding from existing investor Expedition Growth Capital. The investment will support the company’s development of AI-powered accounting automation, expansion of its financial services platform and growth across France.
Founded in 2015 by Patrick Maurice, Florent Galland, Véronique Maurice and Sarah Jaouani, Dougs provides accounting and financial management services to entrepreneurs and small businesses. Patrick Maurice serves as CEO, while Florent Galland is COO. The company combines proprietary software with regulated accounting services and professional financial advice.
Dougs operates an integrated platform covering company formation, bookkeeping, tax compliance, payroll, legal services, electronic invoicing, business accounts and wealth management. Its technology automates routine accounting processes while enabling customers to access chartered accountants and other financial professionals.
The company plans to use the new capital to advance its proprietary AI agents and automate a greater share of accounting production. Dougs is developing systems capable of generating financial statements for review and approval by chartered accountants, retaining professional oversight of the final output.
The funding will also support the expansion of Dougs’ accounting, legal and financial management services. The company intends to strengthen its presence across France by developing a network of local partners to provide additional support to entrepreneurs.
Dougs currently serves more than 50,000 businesses and generates over €50 million in annual recurring revenue (ARR). According to the company, it has remained profitable since inception, maintained annual growth exceeding 50% over the past decade and achieved gross margins above 80%.
The company has developed its technology infrastructure internally and employs more than 100 engineers. Its AI systems are already used in bookkeeping workflows, with further automation planned across accounting production.
Dougs previously secured €25 million from Expedition Growth Capital in July 2023, marking its first external funding round after operating as a bootstrapped business.
With the latest investment, Dougs is targeting €100 million in annual recurring revenue and 100,000 customers in the coming years as it expands its technology-enabled accounting services.
