Abacum announced raising $7 million in a round backed by PROFounders, K-Fund and Creandum.
Abacum, a Barcelona, Spain-based SaaS startup that makes it easy for finance teams to use real-time data, generate reports and collaborate, announced the completion of a $7 million capital funding round.
The money was raised from a range of international VCs including PROFounders from the UK, K-Fund from Spain and Creandum from Sweden. They were joined by a number of angel investors such as Justin Kan (Atrium and Twitch co-founder and CEO), Maximilian Tayenthal (N26 co-founder and co-CEO & CFO), Thomas Lehrman (GLG co-founder and ex-CEO), Avi Meir (TravelPerk co-founder and CEO), Jenny Bloom (Zapier CFO and Mailchimp ex-CFO) and Mike Asher (CFO at Neo4j).
Abacum, founded in 2020 by CEO Julio Martinez and Jorge Lluch, develops software helping other companies with financial planning based on real-time data.
It targets mid-sized organisations and integrates with internal tools that do separate functions such as HR, CRM and ERP and automatically synchs in order to provide real time updates with finance-based KPI outputs. The tool is sold as a SAAS, was made public in 2020 and is now in use by paying customers including Typeform, Cabify, Ebury, Garten, Jeff and Talkable.
Abacum is part of the 41 startups from Europe incubated by Y Combinator in the winter of 2021. Other startups from the batch that raised money this year includes Anima from the UK (), Humaans from the UK also (HR SAAS developer) and Vue Storefront from Poland (headless e-commerce software),