Candis to raise €12M series B led by Viola Ventures and Rabo Frontier Ventures
Candis, a Berlin, Germany-based SAAS platform provider for automated accounting and payment processes, announced closing series B funding round of €12M ($14M).
The round was led by Viola Ventures and Rabo Frontier Ventures, the investment arm of Rabobank, and included participation from existing investors Lightspeed Venture Partners, Point Nine Capital, Speedinvest, the main incubator of Commerzbank and 42CAP.
The proceeds will be used for the development of the platform's machine learning engine and to accelerate business growth and expansion within Europe.
Candis, founded in 2015 by Christopher Becker and Christian Ritosek, develops software solutions that automates manual bookkeeping, accounting processes and B2B payments for mid-market companies with machine learning. The software automatically collects bookkeeping documents from various sources, classifies and authenticates the data, generates approval processes and real-time-insights and payments for accounts payables.