Fast Growing German Fintech Raises $16M to Automate Accounts Payable
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Show Notes
I spoke with Christian Ritosek, co-founder and CEO of CANDIS. He’s helping finance departments in German companies improve their AP technology. He should pass $10M ARR this year as CANDIS expands into Europe.
CANDIS, a Berlin, Germany-based fintech software provider, raised $16 million in its latest funding round to assist businesses in automating their accounts payable (AP) function, bringing CANDIS's total funding to $30 million.
The round was led by Viola FinTech and returning investor Lightspeed, and Viola Ventures also participated in the round. With a focus on the SME market, it will now concentrate on expanding its product offering with payments, building additional integrations, doubling down on core invoice management functionality, and expanding the team.
- Founded in 2015
- Started as a consulting agency
- Focused on the German market but expanding this year
- 110 staff, HQ in Berlin
- $30M raised to date
- Use warm intros to find investors
- Sell your big vision
Christian Ritosek’s LinkedIn: https://www.linkedin.com/in/christianritosek/
Fundraising Story: https://www.thesaasnews.com/news/candis-raises-16-million-in-funding