Antwerp, Flanders-based startup Monitr wants to give SMEs better access to intelligent cash flow forecasting to strengthen the transparency of their books.
Company CEO Pieterjan Van Dam argues startups generate very few clues from basic forward-money estimates, often drawing on guesswork, as to how they'll perform in the future.
With macroeconomic headwinds now affecting SMEs , Monitr cites analysis which shows most Flemish small businesses toil at the cash register just to keep solvent while also building a buffer zone for major operating risks.
Moreover, the latest salary indexation drive by Flanders region's government has thrown up more red tape for some 500,000 professional workers, Monitr says, extending pressure on SME accounting and finance.
With its SaaS platform, Monitr promises to let entrepreneurs predict where cash flow will land month-to-month and yearly.
Having previously banked venture funding in 2021, it is now announcing a second €500,000 injection, mainly from Pamica NV, to support scaling across Belgium and the Netherlands.
"As a CFO, I know it is a great challenge to make figures transparent. Bookkeeping is often just a register, which provides little or no insight into your company's performance," Van Dam said.
"Your cash position is often more important than your turnover. I noticed that managing this in Excel is often time-consuming and complex. Which is why I started Monitr myself."