Copenhagen-based Scaleup Finance has raised £3 million from a syndicate of European investors including Mainset, Circlerock, North Ventures, Crowberry, Inveready, and SeedX, along with angel investor Dan Cobley, former Managing Director of Google UK. The company, which has provided CFO-as-a-Service to over 500 startups across Europe, is launching Nume, an AI tool that performs key CFO functions for small and mid-sized businesses. Drawing on data from four years of financial operations and input from 40 CFOs, Nume connects directly to accounting and banking systems to generate reports, forecasts, and risk analyses. The funding will be used to bring the product to market and expand its reach among SMEs that typically lack access to full-time financial leadership.
Scaleup Finance is a fintech company founded in 2021 that develops financial management tools for startups, scaleups, and small to medium-sized enterprises (SMEs). The company combines technology with professional financial expertise to streamline budgeting, forecasting, and reporting. Operating on a subscription model, its platform automates key financial tasks such as bookkeeping, payroll, and payments while integrating with major accounting and ERP systems. In addition to automation, Scaleup Finance provides clients access to experienced fractional CFOs who support strategic financial planning. The company employs around 90 people and serves more than 250 clients globally.
“Nearly 50 million SMEs worldwide operate without a proper finance function, relying on spreadsheets and gut feeling instead of financial leadership. With Nume, we’re giving them the CFO they’ve always needed, but never been able to afford,” says Alexander Sonne Wulff, CEO and co-founder of Scaleup Finance.
Nume is built on four years of Scaleup Finance’s CFO-as-a-Service experience including 40 CFOs working with more than 500 high-growth startups across Europe. The team has condensed thousands of hours of learning and knowledge into a tool for every SME to use.
It connects directly to banking and accounting systems to deliver CFO-level insights in minutes – from liquidity forecasts to board-ready reports, and proactively surfaces risks and opportunities in real time.
Over the past year, Nume has been tested in private beta with a select group of companies, refining its capabilities in real-world conditions. Already, more than 2,500 companies from 80 countries have signed up for the launch.
The round was led by a syndicate of European investors including Mainset (UK), Circlerock (Ireland), North Ventures (Denmark), Crowberry (Iceland), Inveready (Spain), and SeedX (Liechtenstein), alongside angels such as former Google UK Managing Director Dan Cobley.
With the funding, Scaleup Finance is now bringing Nume to the global market making CFO-level support accessible to millions of SMEs for the first time.
“SMEs are the backbone of the global economy, yet most still lack access to the financial leadership they need. With Nume, Scaleup Finance is opening up CFO-level capabilities to millions of businesses worldwide. With a proven founding team, we believe Nume can set a new standard for how SMEs worldwide run their businesses,” says Mikkel Rørvig, Partner at North Ventures.
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Read the orginal article: https://arcticstartup.com/scaleup-finance-raises-3-million/
