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News

Simetrik raises USD 55 mln in a Series B round

Thursday 22 February 2024 13:45 CET | News

Simetrik, a B2B financial solutions platform, has announced a USD 55 million Series B funding round led by Growth Equity at Goldman Sachs Asset Management. 

 

As per the official announcement, other investors joining this round include FinTech Collective, which led the Series A, and Cometa, who led the seed round, Falabella Ventures, Endeavor Catalyst, Actyus, Moore Strategic Ventures, Mercado Libre Fund, and the co-founders of Vtex.

Simetrik, a B2B financial solutions platform has announced a USD 55 million Series B funding round led by Growth Equity at Goldman Sachs Asset Management.

The officials of the company stated that this funding marks a pivotal step for Simetrik in reinforcing its role in the rapidly transforming financial sector and expanding its global reach. 

Simetrik seeks to develop solutions to simplify and automate key financial tasks like record centralisation, reconciliations, controls, reporting, and accounting. Its products are based on Simetrik Building Blocks (SBBs), a scalable, adaptable, and intuitive concept based on no-code development and generative AI technologies.  

Tailored to the dynamic needs of financial managers and their teams, these SBBs are set to further evolve with the Series B funding, enhancing their AI capabilities and reinforcing Simetrik’s dedication to advancing these solutions. 

This funding would also enable the company to elevate its SBBs, integrating more advanced and secure AI to deliver unparalleled financial automation solutions. 

More about Simetrik 

The company’s global footprint spans over 35 countries, monitoring over 200 million records daily, including in key Asian markets such as India and Singapore.  Simetrik intends to use funds from this Series B to help expand its international reach, targeting major payment companies and consumer marketplaces worldwide. 

Officials from Goldman Sachs Asset Management stated that financial automation is a thriving industry worldwide, and it was impressed by Simetrik’s solutions. This investment will allow Simetrik to expand further through the Latin American market and beyond. 

More: Link


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Keywords: funding, investment, financial services, artificial intelligence
Categories: Payments & Commerce
Companies: Goldman Sachs
Countries: Latin America
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