Simetrik, a financial automation platform based in Colombia, has completed a Series B funding round, raising a substantial $55m.
According to PYMNTS, this significant investment was led by the esteemed Growth Equity team at Goldman Sachs Asset Management, with additional contributions from existing stakeholders FinTech Collective and Cometa. This financial injection marks a pivotal moment for Simetrik, underlining the growing confidence in its innovative solutions and future potential.
Founded in 2019, Simetrik has swiftly made a name for itself within the FinTech sector. The company specializes in providing “intuitive solutions” designed to streamline and automate a myriad of financial operations. These operations range from record centralization to reconciliations, controls, reporting, and accounting. Central to its offering are the Simetrik Building Blocks (SBBs), which leverage no-code development and cutting-edge generative artificial intelligence technologies to simplify financial tasks.
The freshly secured funds are earmarked for further enhancing the SBBs with advanced AI capabilities. Santiago Gómez, Simetrik’s co-founder and chief operating officer, elaborated on their plans, stating that the investment will enable the company to deliver even more sophisticated financial automation solutions to their clientele. This development promises to strengthen Simetrik’s position as a leader in the B2B FinTech space, offering unparalleled efficiency and innovation.
With a robust presence in over 35 countries and monitoring more than 200 million records daily, Simetrik is not resting on its laurels. The company has ambitious plans to use the Series B funding to “expand its international reach, targeting major payment companies and consumer marketplaces worldwide.” This global expansion strategy underscores Simetrik’s commitment to transforming financial operations on a global scale, making financial processes more efficient and accessible.
Reflecting on the successful funding round, Alejandro Casas, Simetrik’s co-founder and CEO, emphasized the significance of the investment. “The new capital will help strengthen the company’s position in the evolving financial sector and expand its global reach,” he noted. This statement encapsulates the optimistic outlook for Simetrik as it continues to innovate and expand its influence within the FinTech industry.
Prior to this Series B funding, Simetrik had already captured the attention of investors, securing earlier rounds of financing that have contributed to its rapid growth and development.
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