We advised Aurelia, a financial automation platform, on raising USD 3 million in seed funding led by Blossom Capital.
IFTTT for finance
Founded in April by a team of engineers and developers formerly of Wise and JP Morgan, Aurelia has been designed to help relieve the financial admin burden faced by small businesses across Europe. Instead of spending more than 15 hours a week – the equivalent of losing an entire month every year just managing admin – Aurelia gives business owners control over cash flow, taxes, and more, helping automate normally manual tasks, with no knowledge of code needed.
“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,” explained Sebastian Trif, founder of Aurelia. “On a feature-by-feature basis, we’re competing with established packs of plugins you must have on top of your accounting software like Xero and Quickbooks. We’re also competing with smart SME banking solutions, such as Tide, Revolut for Business, and Wise for Business, which have more limited features.”
Investing into growth
Angel investors include Guillaume Pousaz (founder and CEO at Checkout.com) through his Zinal Growth investment vehicle, and Erez Mathan (ex-COO and CRO at GoCardless). The company is looking to launch its beta platform in the UK, Romania, Estonia, and Germany before the end of the year and will use the funding to further develop its features and expand the team.
Our services and client team
We supported Aurelia throughout the fundraising process by, among other matters, preparing and negotiating all relevant transaction documents.
Our client team was led by senior associate Mirell Prosa, supported by senior associate Triin Ploomipuu and partner Toomas Prangli among others.
More information – Techcrunch and Privateequitywire.
