Scaleup Finance has raised a £6.4 million pre-Series A round to ‘solve the challenge of financial management’ for startup and scaleup companies.
Led by Inveready, alongside Crowberry Capital, Seed X, PROfounders, Fin Capital and CircleRock Capital, the funds will be used to help drive continued growth in the UK and prepare for future expansion into the US.
Scaleup Finance enables startups to streamline financial planning and analysis, automate financial reporting and navigate the complexities of financial management with ease.
Launched in Denmark in 2021, Scaleup Finance expanded into the UK market in 2022.
“As founders ourselves, we have experienced the frustration of trying to build a reliable finance function with limited resources,” said co-founder and CEO Alexander Sonne Wulff.
“Having a finance set up in place that is backed up by reliable data is crucial when trying to satisfy the demands of board members and investors – so it’s important to get right.
“With Scaleup Finance, founders now have a platform that automatically delivers the data and insights your stakeholders need, whilst enabling them to spend more time on building and growing their business.
“Our vision with this round is to create a digital finance home that empowers founders and finance professionals to fully understand the data that drives their business performance.”
Alongside their financial management platform, Scaleup Finance also offers fractional CFO services to provide ongoing support and ensure the best financial decisions are taken.
Aniol Brosa, partner at Inveready, added: “We are delighted to be supporting Scaleup Finance as it continues its impressive growth journey.
“The need for a new generation of financial management for startups and scaleups has never been more apparent, making this an extremely exciting time for the team. With this investment, Inveready has further strengthened its position in Europe.”