The funds will be used for further product development as well as expanding its team, which will involve the opening of a UK office.
Silverfin makes accountancy software that integrates with legacy programs and links together financial data, reporting, and communication. It currently has 64,000 businesses using its software.
“With real-time precision data at their fingertips, Silverfin not only enables full-picture better-informed decision-making, but also empowers finance teams to shift focus from day-to-day operations to a far more proactive role as strategic advisors to the business,” said Silverfin co-founder Joris Van Der Gucht, cofounder (pictured left), who describes the software as a “central nervous system for financial advisory and services firms”.
“Fully automating data collection and reconciliation has been described as ‘the holy grail’ of accounting, because it will transform the financial advisory, accounting and auditing sectors,” added Jan Hammer, partner at Index Ventures.