Fintech Simetrik Secures US$55m in Series B Funding
Founded in 2019, fintech startup Simetrik has raised US$55m in Series B funding with lead investment by Goldman Sachs.
Simetrik has announced itself as the B2B fintech pioneering financial operations, accounting and financial planning and analysis (FP&A) in recent times, with a customer base already extending to some major firms including PayU, Mercado Libre and Nubank.
In addition to Goldman Sachs, investors in Simetrik include the leader of its Series A round FinTech Collective, Cometa, Falabella Ventures, Endeavor Catalyst, Actyus, Moore Strategic Ventures, Mercado Libre Fund and the co-founders of Vtex.
Simetrik: Scaling intuitive solutions
Simetrik aims to use its new funding to scale the adoption of its intuitive solutions for FinOps, accounting and FP&A professionals. Solutions Simetrik offers include record centralisation, reconciliations, controls, reporting and accounting.
Its products are built from its proprietary Simetrik Building Blocks (SBBs) technology – a scalable, adaptable and intuitive solution based on no-code and generative AI technologies.
Indeed, by leveraging no-code, Gen AI tech, Simetrik can tailor its service offerings to the varying, dynamic needs of different CFOs and financial teams within its partner organisations.
Now that Simetrik has its new funding, it hopes to further evolve its so-called SBBs too, enhancing the AI capabilities that power the company to deliver cutting-edge solutions to its clientele.
Santiago Gómez, Co-founder and COO of Simetrik, says: “This funding enables us to elevate our SBBs, integrating more advanced and secure AI to deliver unparalleled financial automation solutions.”
The rapid rise of Simetrik
It’s worth remembering that Simetrik was founded only five years ago, so its growth rate to date has been achieved at remarkable speed.
Today, the company’s global footprint extends to over 35 countries, and it monitors over 200 million records per day – particularly in its key markets of India and Singapore.
Natan Reinig, Vice President of Growth Equity at Goldman Sachs Asset Management, adds: “Financial automation is a thriving industry worldwide, and we were impressed by Simetrik’s solutions. We believe this investment will allow it to expand even further through the Latin American market and beyond. We are thrilled to lead this Series B round.”
Reinig’s comments highlight the faith Simetrik’s investors have in its sustained success and expansion, with Carlos Alonso-Torras, partner at FinTech Collective adding: “Over the last two years, Simetrik has undergone a remarkable transformation, substantially growing its product offer, sales efficiency, geographic coverage, and strategic sophistication.
“Armed with a loyal and highly motivated team, it is uniquely positioned to revolutionise enterprise financial operations, arguably at a global level. The plan is both ambitious and complex, but we believe in the company’s ability to continue redefining expectations.”
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