Berlin -based startup Flow The utility of platform for medium-sized businesses across Germany and Europe has collected $ 15 million in an extended series to advance its AI-driven expense management platform to create autonomous finance workflies.
This round was supported by Returning Investors, including CIBC Innovation Banking, in addition to financial support from Alstin Capital, Capnamic Ventures, Peak Capital, Wenvest Capital and Storm Ventures.
“We have an obvious goal: to be spent on the expense of being AI-based champions in Germany and spending on small and medium-sized businesses” NicolaiCircular CEO. “With the confidence of several million euros, thousands of active users and countless tax consulting companies in transactions, we are in an ideal position to realize our outlook on the finance teams in the coming years.“
Nicolai Skachchov and Roman Leicht provide a modular sau platform designed to facilitate the management of business expenses established in 2017. Its main features include AI-powered receipt capture, automatic tax-loyal data drainage and real-time booking verification.
With more than 2,5 customers, the Circular Customer Base includes companies like Aston Martin about you, datvi and securitus about you. More than one and a half million employees across Europe are currently using the platform to conduct travel expenditures, to manage the dimes, credit card transactions and employee facilities.
According to the circular, the companies use the platform to reduce manual efforts by 80% and short the monthly concluding cycle by several business days-the growing critical advantage of economic uncertainty and expenditure cuts.
Demand for digital cost solution has been undercarded by the Diams provided by the ERP, which says only 8.8% of the medium -sized businesses in Germany have completely automatically automatically automatically. The goal of the circular mobile-first system was that it was reported that capturing more than 5% of the cost on the venue, pre-booking with tax-related data and cutting the billing cycle in less than two days.
Charlotte GogginDirector of CIBC Innovation Banking says: “The circula is converting the traditional papers into smart, AI-driven processes-determining the new value in conducting digital expenditure. We encouraged to support this increaseThe “
The agency says its success is built on a disciplined approach for strong revenue and profitability – traats that have helped the current fund’s atmosphere in the weather.
With this latest capital injection, the circula plans to increase its AI capacity and introduce more automation features suitable for finance teams.
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