Finway offers SMEs a central platform for their financial processes. It provides companies with tools for expense and travel expense management, budget planning, and preparatory accounting. The Munich-based startup aims to enable SMEs to eliminate time-consuming and error-prone manual tasks and digitize their accounts payable processes. The startup was founded in 2020 by Csaba Krümmer, Jennifer Dussileck, and Philipp Rieger. According to the company, Finway serves more than 400 customers in the DACH region, including Munich-based startups such as Alasco and Recup.
The now completed Series A financing round of €9.2 million ($10 million) is led by Capital 49, an early-stage venture fund led by the founders of the Australian fintech unicorn Airwallex. Other new investors include Force Over Mass, a UK-based fund specializing in fintechs, and the family office of Paul Forster, co-founder of the job portal Indeed. Existing investors such as Btov Partners and the 10x Group led by Felix Haas also participated in the new investment round. The startup intends to invest the new funds primarily in the further development of its software solution.
“Reshaping the future of financial services for modern businesses”
Jennifer Dussileck, Co-founder and Co-CEO of Finway, explains:
"We are thrilled to have the support of committed, successful investors who recognize the potential of fintech in the B2B space. The need for efficient and automated financial processes has never been greater, as cost control becomes 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 changing the future of money and banking. Finway is addressing this challenge by building a solution that automates financial processes and increases efficiency for SMEs. We are thrilled to lead the investment round and strengthen an ecosystem that aligns with our vision of reshaping the future of financial services for modern businesses."
