sevDesk gathers USD 50 mln in funding

sevDesk’s cloud-native accounting platform is a solution for self-employed, freelancers, and businesses in Germany and Austria. With this new capital, sevDesk plans to develop its product portfolio and integration ecosystem and will invest in a workforce expansion. According to a sevDesk representative, the company’s goal is now to build on their market position and expand their portfolio towards a complete financial software solution.

sevDesk’s platform will see additional enhancements to its automation, artificial intelligence and mobile work capabilities. The investment round was led by global investor Arena Holdings. sevDesk is also planning to use the funding to enhance its platform through partnership and integration expansion. The sevDesk representative states that the innovative software is intended to save self-employed and small businesses more time by reducing administrative tasks.