Georges tech becomes Indy, raises €35 million from Singular, alongside existing investors Alven and Kerala Ventures.

Indy, a Lyon and Paris, France-based SAAS startup for accounting services, announced that it completed a €35 million ($42.4M) capital funding round.

The announcement was made as the company decided to switch names from Georges tech to Indy.

Money was raised from investors led by Singular VC and included contributions from existing investors Alven and Kerala Ventures.

Indy, founded as Georges tech in 2016 by CEO Côme Fouques, Pablo Larvor, Adrien Plat and Romain Koenig, develops software that can be used as an accounting automation application by freelancers and small companies. The tool is sold against a recurring subscription and is in use by roughly 40k paying customers.

Indy previously raised about $13 million in capital funding in two rounds.