Automated accounting firm Candis raises €12m in Series B funding
Automated accounting and payments firm Candis has raised €12 million in a Series B funding round led by Viola Ventures and Rabo Frontier Ventures.
Candis has raised €13 million since 2015
Existing investors Lightspeed Venture Partners, Point Nine Capital, Speedinvest, and 42CAP also participated in the round.
Founded in 2015, Candis has raised a total of €13 million. Its only other injection of capital came in March 2016 in a seed round led by Point Nine Capital.
Candis intends to use its new cash to continue the development of its machine learning engine and to expand within Europe.
The firm offers automated bookkeeping, accounting processes and business-to-business payments.
Candis says its software automatically collects bookkeeping documents from various sources, classifies and authenticates the data, generates approval processes and real-time-insights and payments for accounts payables.
“[Businesses] in Central Europe have a void when it comes to efficient and effective accounting and financial processes”, says Omry Ben David, partner from Viola Ventures.
“Candis is well positioned to become the go-to platform in Europe for the automation of bookkeeping, accounting and payment processes, as well as for the provision of financial insights and benchmarks.”
