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Friday, April 19, 2024

Danish Scaleup Finance secures $8M pre-series A round to simplify financial management for startups and scaleups

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Scaleup Finance, a Copenhagen-based startup, has raised an $8 million Pre-Series A round led by Inveready, with participation from Crowberry Capital, Seed X, PROfounders, Fin Capital, and CircleRock Capital. Launched in 2021, Scaleup Finance offers a platform to streamline financial planning and analysis for startups and scaleups, with a focus on automating financial reporting and simplifying financial management. The company, which expanded into the UK market in 2022 and experienced significant growth, intends to use the funding to drive further growth in the UK and prepare for expansion into the US.

Scaleup Finance is a financial management platform designed for modern entrepreneurs. Founded by entrepreneurs who experienced the challenges of scaling accounting administration, Scaleup Finance aims to provide flexible solutions for startups and small companies. The platform offers comprehensive, subscription-based services to streamline financial planning, automate reporting, and simplify management processes. Scaleup Finance’s mission is to redefine financial management by empowering founders to focus on building their businesses, free from the constraints of traditional financial practices.

“As founders ourselves, we have experienced the frustration of trying to build a reliable finance function with limited resources. Having a finance set up in place that is backed up by reliable data is crucial when trying to satisfy the demands of board members and investors — so it’s important to get right.” says Co-founder and CEO Alexander Sonne Wulff. “With Scaleup Finance, founders now have a platform that automatically delivers the data and insights your stakeholders need, whilst enabling them to spend more time on building and growing their business. Our vision with this round is to create a digital finance home that empowers founders and finance professionals to understand the data that drives their business performance fully.”

Aniol Brosa, Partner at Inveready, states, “We are delighted to support Scaleup Finance as it continues its impressive growth journey. The need for a new generation of financial management for startups and scaleups has never been more apparent, making this an extremely exciting time for the team. With this investment, Inveready has further strengthened its position in Europe.”

Click to read more funding news.

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Nurcin Metingil
Nurcin Metingil
A permanent student, a passionate first reader and nowadays doing master’s degree in Publishing Management. Beside these, I am up for games! I have been playing games since I was 6. Now, I am whispering "Business. Business. Numbers. Is this working?"

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