Smacc, a Potsdam and Berlin, Germany-based provider of financial management tools for small and medium-sized business, raised €3.5m in Series A funding.
Backers included Cherry Ventures, Rocket Internet, Dieter von Holtzbrinck Ventures (DvH Ventures) and Grazia Equity.
The company intends to use the funds to expand the team and operations.
Co-founded in May 2015 by Dr. Ulrich Erxleben, Janosch Novak and Stefan Korsch, Smacc provides small and medium-sized companies with cloud-based financial management apps to allow them to free time and resources and focus on business.
The web and mobile solution features a human resource software application, expense management tools, liquidity control, automatic payment matching, workflow management and approval, payment transaction, informative finance cockpit, digital document management modules as well as access to qualified accountants tax advisors supporting customers in the different situations.