Ireland’s Outmin secures €4M to expand its AI finance platform; appoints new Chairman

Dublin-based Outmin, a startup transforming how small and medium-sized businesses manage their finances, has raised €4M in the latest funding round.

The funding round was led by Praetura Ventures through its Praetura EIS Growth Fund and NPIF II – Praetura Equity Finance, managed by Praetura as part of the Northern Powerhouse Investment Fund II.

Based out of Manchester, Praetura Ventures is a venture capital firm specialising in early-stage investments, with a strong focus on supporting entrepreneurs in the North of England.

This latest capital injection will support the company’s continued development of its AI-powered financial platform, which automates bookkeeping, accounting, and payroll for SMEs.

With the new funding, the company plans to further expand its team, enhance product offerings, and accelerate international growth, particularly in the UK and Ireland.

Appointed Feargal O’Rourke as the new chairman

Alongside the funding announcement, Outmin has appointed Feargal O’Rourke, former Managing Partner of PwC Ireland, as its new Chairman.

“When I was approached to go in as Chair, three things stood out. Firstly, the core team—Ross, Jane, and David. Super bright people with an excellent dynamic, bringing strong thinking to strategy, operations, product development, and people. Secondly, the wider team. I attended a company day and was blown away by the enthusiasm and unity of purpose—not a top-down vision, but a shared goal. And thirdly, the product. Outmin’s AI machine learning journey will revolutionize bookkeeping, with a real chance to become a global leader,” says Feargal O’Rourke, Chairman, Outmin.

Outmin: AI-powered accounting and bookkeeping

Founded in 2020 by Ross Hunt and David Kelleher, Outmin provides an AI-powered accounting and bookkeeping platform to streamline financial operations for small and medium-sized enterprises (SMEs).

“You never need to reconcile anything again. If you’re missing a document, we will resolve it for you. It’s part of the process and service,” says  Ross Hunt, CEO of Outmin

Its SaaS platform automates a range of financial tasks, including payroll, expense management, tax returns, and compliance filings.

The company claims to have helped finance teams and accounting firms reduce their accounting costs by 66 per cent and free up more than 120 hours of administrative time each month.

Supported by leading investors like Middlegame and Fuel Ventures, Outmin’s team consists of top talent from fintech, startups, and accounting, committed to making daily financial tasks easier.

Currently, the Irish firm serves over 350 businesses and has partnered with 12 accounting practices.