Finway offers SMEs a central platform for their financial processes. Companies find tools for expense and travel cost management, budget planning, and preliminary accounting. With this, the Munich startup wants to enable SMEs to eliminate time-consuming and error-prone manual tasks and digitalize their accounts payable. The startup was founded in 2020 by Csaba Krümmer, Jennifer Dussileck, and Philipp Rieger. According to its own information, Finway serves more than 400 customers in the DACH region, including Munich startups such as Alasco and Recup.
The completed Series A funding round of 9.2 million euros (10 million dollars) is led by Capital 49, an early-stage venture fund led by the founders of Australian fintech unicorn Airwallex. Additional new investors include Force Over Mass, a UK-based fund specializing in fintechs, and the family office of Paul Forster, co-founder of job portal Indeed. Existing investors such as Btov Partners and 10x Group around Felix Haas have also participated in the new investment round. The startup plans to invest the new funds primarily in further developing its software solution.
“Reshaping the future of financial services for modern businesses”
Jennifer Dussileck, co-founder and co-CEO of Finway, explains:
“We are excited about the support of dedicated, successful investors who recognize the potential of fintech in the B2B sector. The need for efficient and automated financial processes has never been greater than today, as cost control is becoming increasingly important due to economic challenges. This is the right time for Finway to continue growing and realize our vision of productive, smooth, and effortless financial processes in every SME.”
Jack Zhang, co-founder of Airwallex and Capital 49, says:
“It’s no secret that technology is fundamentally transforming the future of money and banking. Finway is rising to this challenge by developing a solution that automates financial processes and increases efficiency for SMEs. We are delighted to lead the investment round and strengthen an ecosystem that aligns with our vision of reshaping the future of financial services for modern businesses.”
