Cashforce, an Antwerp, Belgium-based cash forecasting and working capital management solution provider, raised €5m in Series A funding.
The round was led by Inkef Capital and Citi Ventures, with participation from existing investors Pamica NV, the investment company of Michel Akkermans, and Volta Ventures.
The company intends to use the funds to accelerate global growth and presence in new markets.
Led by Executive Chairman Michel Akkermans and CEO Nicolas Christiaen, Cashforce provide a Cash Forecasting & Working Capital Analytics Platform, focused on automation and data integration. As a ‘next-generation’ treasury solution, the platform allows finance/treasury departments to save time and cash by offering accurate Cash flow forecasting through ERP & TMS integration, advanced analytics & machine learning.
It is used globally by clients such as Pearson and Staples.
The company has offices in Amsterdam, Ghent, New York, London and Copenhagen with others (Zurich, Singapore) to follow soon.