A string of venture capital firms have invested €3.5m in German accounting software startup Smacc.
Cherry Ventures, Rocket Internet, Dieter von Holtzbrinck Ventures, Grazia Equity and Business Angels all took part in the Series A round for the company.
Filip Dames, founding partner of Cherry Ventures, said, “The high degree of innovation of the software in combination with the expertise of its founding team brings Smacc our view in an excellent position to change accounting market sustained by technology.”
Smacc provides small and medium sized companies with software and services to digitize their current accounting and operational financial processes and automate.
Thus, the user can implement efficient digital processes and gain real-time visibility of their finances. Also Accountants benefit from the offer: The current accounts can be with Smacc automate to a high degree and digitize the cooperation and communication with the mandates.
“With the financing round we pursue our goal of further, future thousands of small help to medium sized companies to digitize their operational financial processes to automate and thus simplify considerably,” says Janosch Novak. “The capital from the financing round helps to develop our proprietary technology platform and further accelerate growth.”
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