Cashforce, a Herentals (Antwerp East), Belgium-based fintech startup, recently raised €1m in Series A funding.
The round was led by Volta Ventures with participation from Pamica NV, the investment company of Michel Akkermans, former Chairman and CEO of financial technology company Clear2Pay. In conjunction with the funding, both Volta Ventures and Michel Akkermans joined Cashforce’s Board.
The company is using the funds to accelerate its product development and its commercial rollout in Europe.
Led by Nicolas Christiaen, CEO, Cashforce provides large capital intensive businesses (multinational, multi-bank, multi-currency, multi-ERP) enterprises, typically with revenues between € 100 million and € 10 billion, with a smart cash flow management and forecasting platform. The technology platform, which is used by CFOs and Finance departments to get access to cash visibility & pro-active cash saving insights, connects with any ERP system.
The company, which also has offices in New York City serving customers such as Hyundai and Portucel among others, will roll out its solution in the European market, partnering with banks, private equity firms & financial consultants.