Amsterdam’s Finstack raises €1.2M to grow its finance automation platform, empowering 700+ professionals to eliminate manual month-end close processes.
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Amsterdam-based Finstack, an automated reporting, consolidation and forecasting platform, has raised €1.2M to accelerate its commercial growth and expand its automation platform for finance professionals.
The funding round saw participation from seasoned founders and investors, including Mike de Boer (Quantum Leap Capital), Maarten Wolleswinkel, and René Feiner, alongside several angel investors and industry leaders.
The announcement comes at a time when the Dutch company experienced 4x revenue growth and now supports more than 700 finance professionals in automating their consolidation and forecasting processes.
The platform’s goal is to free finance teams from repetitive manual work and to drastically shorten the financial close cycle.
Finstack: Consolidated reporting & forecasting
Founded by Karel Gonzalez Hulshof and Sebastiaan Hoekstra, Finstack enables companies to speed up their month-end closing with its automated reporting, consolidation and forecasting platform.
“We’re on a mission to eliminate the month-end close for one million finance teams across Europe. Finance will move from chasing the past to always being one step ahead,” says the company.
The company’s platform handles consolidations across multiple entities, including intercompany eliminations, minority/non-controlling interest, and sub-group reporting.
The reports can also be consolidated by group, region, or business unit, with full visibility into eliminations and adjustments, says the company.
