Numarics, a Zurich-based firm known for developing an AI-powered “business OS”, has raised €10.2m. Notably, the company has acquired four businesses this year and aims to broaden its expansion across the DACH region by engaging in more M&A activities and developing its range of services.
The seed funding round amounting to €10.2m was co-led by UBS through UBS Next, the company’s venture and innovation unit, and FiveT FinTech, formerly known as Avaloq Ventures. Other participants in the round included previous investors Wingman Ventures and Seed X. This funding follows the company’s previous fundraising activities that have brought in just under €20m since the start of 2020.
Numarics is revolutionising business administration processes that have been time-consuming and unchanged for decades. Their comprehensive CFO solution consolidates accounting and finance software, providing SMEs with the necessary support from their robust operations and expert team. This aims to eliminate the barriers outdated business software can place on business growth, and in some cases, cause failure.
Co-founder and co-CEO of Numarics, Kristian Kabashi, said, “We are building the back office of the future, creating a world where SMEs are free from business administration. Our business OS provides entrepreneurs with an all-in-one solution to run their company and scale faster.”
Numarics has made four acquisitions this year, including a&o kreston, which is viewed as one of Switzerland’s leading fiduciary companies. With more than 100 human experts supporting the AI systems and operating from nine offices across Switzerland, Numarics boasts over 3,000 clients.
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