We advised Reiterate, the Tallinn-based startup aiming to automate cost and revenue intelligence for transactional businesses, on raising EUR 1.25 million.
Wide interest from major market players
The investment round was one of the biggest pre-seed rounds in Estonia and was led by Hummingbird Ventures. The round also included a number of notable private investors, such as the co-founders of Showpad, and former Skype, Pipedrive, Stack Overflow, and Veriff executives.
The new investment will be used to grow its global engineering and product team to further develop the calculation editor, improve client onboarding and grow traction in the U.K. and across Europe.
Going forward, the company’s long-term product vision includes the use of neural networks to analyse agreements, followed by automated analytics to detect payment errors.
Automated custom pricing calculations
Reiterate aims to automate cost and revenue intelligence for transactional businesses. The startup offers a reconciliation tool for finance, payments, and business intelligence teams to provide a no-code environment for generating automated custom pricing calculations.
Founded by the engineering-sales duo that previously built top-selling products at Veriff, the tool visualises complex pricing models and tracks performance to automatically detect charging errors.
Our services and client team
We supported Reiterate 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 associates Vladislav Leiri and Kristi Tammiku.
More information is available here.
