Finway has developed a software for financial processes in SMEs that processes all expenses and aims to promote cross-departmental collaboration among all employees in the company. Jennifer DussileckThe startup, founded by Csaba Krümmer and Philipp Rieger, is now expanding its product portfolio with a liquidity management tool – both as a free standalone solution and as a complement to the existing financial operating system with expense management, virtual and physical cards, budget planning, reporting, and preparatory accounting. According to the company, over 4,500 banks can be integrated into the software.
Logical extension to the existing offer
The liquidity management of Finway will be available in two versions: as a free standalone product or as a supplement to the main Finway product. Liquidity management is now automatically available to existing Finway customers. There is no functional difference between the "standalone" and "integrated" versions.
"Liquidity management is a logical extension of the existing Finway product into a holistic financial operating system for SMEs, the likes of which currently do not exist on the market. But the standalone product is also unrivaled in its scope as a permanently free offering,"
says Co-Founder Csaba Krümmer.
Seed financing of 2.1 million euros
In March 2021, the Munich-based startup was able to Financing of 2.1 million euros announce. Btov Partners, Andrej Henkler, and other business angels were brought on board as new investors. Existing investors including Felix Haas and the 10x Group also participated in the round. The new capital will be primarily invested in expanding product development and customer support. Finway's goal is to build the leading platform for planning, processing, and managing all corporate expenses for SMEs in Europe.
