TL;DR:
- Numarics, a Zurich-based company, successfully raised €10.2 million in a recent funding round.
- The AI-powered “business OS” maker aims to expand across the DACH region through M&A activities and enhance its product lineup.
- The seed funding round was co-led by UBS through UBS Next and FiveT Fintech, with participation from Wingman Ventures and Seed X.
- Numarics revolutionizes business administration by consolidating accounting and finance software into a comprehensive CFO solution for SMEs.
- With over 100 human experts and a network of nine offices, Numarics serves over 3,000 clients and has made four acquisitions this year.
Main AI News:
In a recent funding round, Zurich-based Numarics has successfully raised €10.2 million, further bolstering its position as a leading provider of AI-powered business solutions. With an impressive track record of acquiring four companies this year alone, Numarics aims to expand its reach in the DACH region through strategic mergers and acquisitions while simultaneously enhancing its product lineup to offer a wider range of services.
The seed funding round, which amounted to €10.2 million, was co-led by UBS through its venture and innovation unit, UBS Next, and FiveT Fintech (formerly Avaloq Ventures). Notably, previous investors Wingman Ventures and Seed X also participated in the round, underscoring their confidence in Numarics’ vision and growth potential. To date, the company has successfully raised nearly €20 million since early 2020.
Numarics addresses the longstanding challenge of time-consuming and outdated business administration processes that have plagued enterprises for decades. Despite the presence of various solutions, legacy business software often hinders growth and, in some cases, even leads to failure. This is where Numarics distinguishes itself by revolutionizing the landscape through its cutting-edge technology, merging accounting and finance software into a comprehensive CFO solution for small and medium-sized enterprises (SMEs). Supported by a robust operations framework and a team of seasoned experts, Numarics offers SMEs the tools they need to navigate financial challenges effectively.
Kristian Kabashi, co-founder and co-CEO of Numarics, emphasized the company’s mission, stating, “At Numarics, we are building the back office of the future, liberating SMEs from the burden of business administration. Our innovative business operating system (OS) empowers entrepreneurs with an all-in-one solution to manage their company’s operations and accelerate their growth.“
With a dedicated team of over 100 human experts working in tandem with advanced AI systems, Numarics has established its presence in nine offices across Switzerland. This extensive network enables the company to serve a vast client base of more than 3,000 satisfied customers. Notably, Numarics has made significant strides in expanding its portfolio through strategic acquisitions. Among its notable acquisitions this year is a&o kreston, widely recognized as one of Switzerland’s leading fiduciary companies.
Conclusion:
Numarics’ successful funding round and its strategic plans for expansion highlight the growing demand for AI-powered digital CFO solutions in the market. By offering SMEs a comprehensive and streamlined financial management platform, Numarics is positioned to disrupt the traditional business software landscape. The company’s commitment to innovation, coupled with its strong financial backing, sets the stage for continued growth and market leadership in the evolving business administration sector.
