Abacum, a SaaS for financial teams, adds $25M in Atomico-led Series A

Abacum, a SaaS builder geared toward upgrading mid-sized companies’ financial formulation and research tools, has fast-followed a $7 million seed it lifted progressing this year (April) with a $25M Series A round. The latest appropriation brings a sum lifted to date to $32M.

The Series A is led by European VC Atomico, with appearance from Creandum, FJ Labs, S16VC, and other existent investors.

It combined that a series of “notable” unicorn founders and executives are also fasten this turn as angels — including Adyen CFO Ingo Uytdehaage; Infarm CFO Carmine Visconti; JobandTalent co-founders Felipe Navío and Juan Urdiales; and Blockfi owner Zac Prince.

As partial of a investment, Atomico principal Terese Hougaard will join a board.

As we reported when we lonesome Abacum’s seed raise, a core concentration for a program is on bringing a collaborative covering to financial formulation and research — creation it easier for financial teams to share information internally with a wider business by automating fiddly, repeated primer tasks (such as copypasting information between spreadsheets or other primer information transformations that can be disposed to tellurian error).

Abacum co-founder and CEO Julio Martínez told TechCrunch a 2019-founded startup now has over 50 customers, widespread opposite 5 continents.

These embody a series of informed scaleups given a mid-tier focus. (It slates a likes of Spain’s Typeform, Cabify and Ebury among a sign-ups, for example, and while Abacum’s business is formed in New York a co-founders are Spanish, and it has an bureau in Barcelona, so has evidently been leveraging links to a internal ecosystem to expostulate uptake).

Asked about a expansion rate this year, Martínez said: “We’ve double 15x a ARR in a final year, and a ARR per patron continues to enhance as a value they find in a Abacum height continues to grow.”

“Today, a infancy of a patron bottom is separate between North America and Europe. Regarding industries, we’re focused on fast-scaling tech companies. Fintech and SaaS are a many distinguished sub-industries we understanding with though there is no necessity of Mobility and Martech companies either,” he added.

Per Martínez, Abacum will use a Series A appropriation — essentially — for product expansion and growth.

“Our idea in a subsequent months is to continue building some-more value for a business in a Abacum height with some-more functionality. On a blurb side, we are also flourishing a offices in a US and LatAm to offer a business improved in those markets,” he said. 

Commenting in a ancillary statement, Atomico principal Terese Hougaard added: “Modern financial teams are increasingly called on as a executive source of law in a company, providing all other teams with a submit they need to make pivotal vital decisions. The uncertainties presented by a pestilence have exacerbated this, with financial teams wanting to accurately foresee and unfolding devise faster than ever before. Abacum provides a height vital financial teams need to do accurately this: Aggregate and mix existent sources of business data, forecast, devise and — crucially — combine with all other teams in a company.”

YC-backed Abacum nets $7M to commission financial teams with real-time information and partnership tools

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