Financial automation service Dealflo has announced a £10m Series B investment led by venture capital firm Holtzbrinck Ventures, with additional funds from Notion Capital and Frog Capital.
London-based Dealflo, which automates financial agreement processes through its cloud-based platform, says it will use the funds to invest in a new “product roadmap”. The investment brings Dealflo’s total funding to £13.5m, the firm says.
Founded in 2012, the company claims to process more than $10bn of global financial transactions annually, for companies including BNP Paribas, BMW, and Prudential.
Abe Smith, Dealflo’s CEO, said it was important to choose experienced investors who understand the financial automation sector.
“We have seen phenomenal growth since we founded the business in 2012 and this investment will enable us to deliver to global clients on a global scale,” he said.
Dealflo says its automation services reduce the cost and legal risk of financial transaction.
Barbod Namini, principal at Holtzbrinck Ventures, said: “We saw a talented team with deep sector knowledge, a clear product vision and a proven track record of delivering into large enterprises.”
“We are very excited to work with Dealflo to continue to scale their business in both new and existing sectors and territories.”