Zurich-based Numarics has raised €10.2 million. Already having acquired four companies this year, the AI-powered “business OS” maker wants to continue expansion across the DACH region through more M&A activities as well as develop its product lineup to broaden its range of services.
Numarics’ €10.2 million seed funding round was co-led by UBS through UBS Next, the firm’s venture and innovation unit, together with FiveT Fintech (formerly Avaloq Ventures). Additional participants in the round include previous investors Wingman Ventures and Seed X. Since early 2020 the company has raised just shy of €20 million.
“Time-consuming business administration processes haven't changed in decades. Despite the availability of numerous solutions, outdated business software can make it difficult for businesses to navigate growth and can even lead to failure.
At Numarics, we are revolutionising this by consolidating accounting and finance software, offering SMEs a comprehensive CFO solution supported by our robust operations and expert team,” explained Numarics co-founder and co-CEO Kristian Kabashi.
“We are building the back office of the future, creating a world where SMEs are free from business administration. Our business OS provides entrepreneurs with an all-in-one solution to run their company and scale faster."
With over 100 human experts supporting the AI systems and operating out of nine offices across Switzerland, Numarics counts over 3,000 clients and has made four acquisitions this year, including a&o kreston, considered by many to be one of the leading fiduciary companies in Switzerland.