Fintech Staff Writer
Numarics may save SMEs money
The product was first introduced by Numarics in September 2021, and it won Gold in the Enterprise category of the Best Of Swiss Apps 2021. The renowned Swiss FinTech Awards named Numarics this year as one of the top five growth-stage businesses and one of the top 10 fintech firms in Switzerland.
With a focus on SMEs, Swiss Fintech firm Numarics has secured €10.2 million in a seed round for its automated accounting and administration system. Through UBS Next, the company’s venture and innovation division, FiveT Fintech (formerly Avaloq Ventures), together with prior investors Wingman Ventures and Seed X, co-led the investment. The start-up funding will help Numarics expand via acquisitions, DACH expansion, and more product development to provide a wider variety of services.
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By removing the need for separate accounting, invoicing, document management, and liquidity planning software, Numarics may save SMEs money by preventing the need to engage consultants. With its blend of AI and human knowledge, it provides a reliable digital CFO solution that gives users a distinctive user experience that is quick, smart, and safe. Many components of the back office are automated, which helps users and professionals by eliminating time-consuming administrative activities and providing insights from throughout the company.
So far, Numarics has raised €19.7 million. It has quickly risen to impressive heights and gained the confidence of several enterprises. Currently, Numarics employs nine people across nine offices throughout Switzerland. The business has a staff of more than 100 professionals and a sizable clientele of more than 3,000 people. This year, Numarics has completed four acquisitions, one of which being a&o kreston, one of the top fiduciary firms in Switzerland.
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A company transformation and digital innovation specialist named Kristian Kabashi and a senior expert in financial accounting and regulatory audits with years of experience at PwC and Grant Thornton, Dominique Rey, created the fintech in 2020. With a mission to effortlessly integrate business administration into the lifestyle of today’s entrepreneurs via a mobile-first approach, Numarics was created by professionals in finance, auditing, AI, and automation.
Industry Thoughts
Through UBS Next, we look to invest in companies that will help shape the future of banking to meet our client’s evolving needs commented Mike Dargan, Group Chief Operations and Technology Officer at UBS. This investment will help Numarics expand its present products as well as develop new ones for SMEs, a crucial customer base for our company in the area.
Alexander Christen, founding partner of FiveT Fintech commented that they are quite certain that the team will upend the established accounting business with their better service offering. In the end, this round of investment will assist entrepreneurs and SMEs to enter a new era of effective and streamlined financial management by accelerating growth, adding new product features, and increasing automation.
Wingman Ventures’ founding partner Pascal Mathis remarked The Numarics business operating system is revolutionizing how SMEs operate. We have seen the team’s explosive development over the last year, and we are certain that with the help of this round of investment, Numarics will be able to influence more SMEs with its game-changing solutions. We are pleased to once again support the excellent team at Numarics and its mission.
Time-consuming corporate administration procedures haven’t altered in decades, according to Kristian Kabashi, co-founder and co-CEO of Numarics. Even if there are many solutions available, obsolete company software may make it difficult for organizations to manage growth and even cause them to fail. By combining accounting and finance software, Numarics is revolutionizing this and providing SMEs with a complete CFO solution that is backed by our reliable operations and knowledgeable workforce. We are constructing the future back office and a world devoid of business administration for SMEs. With the help of our business operating system, entrepreneurs can manage and grow their businesses more quickly.
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