Vienna, Austria – Finmatics GmbH, a leading provider of IT services and IT consulting, recently announced that it has secured $6.455 million in its Series A funding round led by Mangrove Capital Partners and eQventure. The funds will be used further to develop the company’s artificial intelligence-driven accounting automation technology, expand its customer base and grow its team.

Finmatics was founded in 2016 by Christoph Prieler along with Ulrich Tröller and Patrick Sagmeister. With the takeover of Enteos in December 2021, Finmatics expanded to include offices in Budapest and Munich. Since its launch, Finmatics has been developing a digital assistant that combines smart software with extensive knowledge to help companies automate their accounting processes quickly, easily, and audit-proof. 

This funding round aims to build on the success of Finmatics’ AI-driven accounting automation technology to make tedious accounting workflows easier for all accountants across Europe. This new capital will also enable the company to boost research & development efforts as well as expand its marketing & sales initiatives so that more businesses can take advantage of Finmatic’s innovative solutions.

“We are thrilled to have received this vote of confidence from our investors which will enable us to further expand our product offerings and customer base,” said Christoph Prieler, Co-Founder & CEO of Finmatics. “Our digital assistants combine smart software that learns with extensive know-how that grows with you allowing customers to benefit from intelligent automation of their accounting processes - fast, easy, and audit-proof."