Scaleup Finance, a Danish FinTech company offering financial management technology, has reportedly raised the biggest seed round in the country’s history.
It raised $8m to support its expansion into the UK market, according to a report from UKTN.
The investment was led by PROfounders Capital, with commitments also coming from FinVC, Clocktower VC, CircleRock Capital and unnamed angel investors.
Founded in 2021, Scaleup Finance stylises itself as ‘CFO-as-a-service’. According to its website, Scaleup Finance claims the CFO is ‘broken.’ It said “Cumbersome meetings, patronising tone, poor reporting and outrageous expenses have long been outdated. Next generation founders need sharp financial insights, advice and intel in a quick and clear format.”
Scaleup’s platform offers a financial management hub that allows teams to monitor and manage their financial operations. Clients can use Scaleup Finance for bookkeeping, payments, payroll, reporting, budgeting, specialised finance, financial modelling and fundraising.
It claims to have over 150 companies leveraging its technology.
Scaleup Finance managing UK director Charlie Robinson told UKTN, “Having worked with more than 500 fast-growing companies in recent years, I’ve seen the majority of them struggle to prepare realistic financial models and handle general financial management tasks, especially during their first years.
“They have a hard time identifying their north-star metrics, which is crucial for fundraising. Scaleup Finance is the answer to all of this. We take the struggle out of financial management, so founders can focus on building, running and scaling their businesses.”
In other Danish FinTech news, kompasbank recently raised DKK 92m ($13m) in funding.
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