Most businesses struggle to keep a track of where their money is between their bank accounts, accounting software, and other tools. Based out of London, Aurelia aims to help businesses manage their finances.
In the latest development, Aurelia has raised $3 million (approx £2.1 million) in seed funding from Blossom Capital and angel investors like Guillaume Pousaz (Founder & CEO at Checkout.com) and Erez Mathan (ex-COO and CRO at GoCardless).
The company will use the funds to develop the platform and expand the team ahead of Aurelia’s beta platform going live in Estonia, Romania, Germany, and the UK.
Eliminating financial burden
Founded by Dragos Apostol and Sebastian Tiff in April, Aurelia, the startup dubbed “IFTTT for financial admin,” has been designed to help relieve the financial admin burden faced by small businesses across Europe.
The platform helps businesses from connecting their bank accounts to integrating payroll tools, incorporating transaction data from e-commerce platforms like Shopify, managing invoices from QuickBooks, and more, business owners can, at a glance, control the flow of money more clearly on Aurelia.
Further, they can keep on top of unpaid invoices or identify supply issues, format and pull together key information for tax filings, and manage salaries all from one place. This allows them to get paid on time, manage cash flow and focus on their customers, clients, and business development.
How does Aurelia benefit businesses?
Upon integrating these services, teams can collaborate on workflows more securely and efficiently, without the need to juggle different apps or share various login details or pay premium fees that typically accompany multi-user access on each of the individual services.
The platform aims to give greater control over cash flow, taxes, e-commerce transactions, expenses, invoices, payroll, and more, making financial admin as simple as opening an email
Sebastian Trif, the co-founder of Aurelia, said: “We see lots of fintech apps and banks that try to capture everything a business has but many small businesses aren’t keen on moving their company’s financial life into a new product. Instead, business owners want a platform that can simplify what it means to run a business, so it should be as simple as checking your email. With Aurelia, we allow people to bring together the software and tools they are using already, give them an overview of what’s happening across these different platforms, and start automating on top of it. We’re excited for people across Europe to get to experience Aurelia and start automating repetitive financial tasks, so they can reclaim their time and focus on what they need to do to grow their business.”
Ophelia Brown, the founder of Blossom Capital, said: “As a small business owner ourselves, we know first-hand how painful and broken it is for SMEs to manage their finances and accounts. After searching for years for the right solution, we committed to Aurelia on the spot. They understand the problem set clearly and we’ve seen how powerful no-code automation is with Tines. Aurelia is building the platform that will empower small businesses owners across Europe to take control of their financial data.”