Crediwire raised DKK 50 million from North Finance and existing investors.

CrediWire, a Copenhagen, Denmark-based company providing a software as a service solution for financial management for small and medium-sized enterprises, announced the completion of a funding round closed at DKK 50 million ($7.7M).

The money was raised from investors from Denmark, including North Finance, Nordea and the Danish bank Sparekassen Kronjylland.

CrediWire, founded in 2015 and led by CEO Nicholas Meilstrup, developed a software analytics tool that helps customers manage their finances. The solution gathers financial data from across financial management systems for small and medium-sized enterprises and provides management and its advisers (such as bank, auditor and board) with an easy graphical overview of the business’s finances in real time and facilitates automated reporting and industry benchmarking. CrediWire’s system is free of charge for businesses, as the recipients of the data – for instance banks – pay for the service.

CrediWire previously raised a funding round from Nordea and Sparekassen in 2019.