Trezy, the financial and cash flow management platform, has recently announced to have secured a €3 million Seed Round led by Seedcamp and Playfair. The round also saw participation from Kima Ventures and Discovery Ventures, among others. The funding will enable Trezy to accelerate its growth, expand its product offering, and strengthen its teams in the Netherlands, France, and the UK.
Reaching thousands of SMEs with real-time financial forecasting tools
The Franco-Dutch fintech company, is focused on providing real-time financial performance insights through its AI-based platform. By leveraging smart classification of bank transactions, receipts, and invoices, Trezy offers a comprehensive view of financial data. The platform combines accounting data with bank transaction data to deliver financial analysis and predictions regarding financial health.
With access to 14 million accounting entries and two million bank transactions, Trezy’s “Smart Forecasts” feature enables business owners to project their cash flow into the future. The onboarding process is automated, allowing new users to access their historic and future cash flows within 30 seconds.
Trezy aims to further enhance its platform by leveraging generative AI technology to automate data analysis and deliver actionable insights more quickly. By reducing the administrative burden and complexities associated with financial processes, Trezy aims to empower small business owners to make informed decisions regardless of their financial literacy.
Quentin Lacointa, Co-Founder and CEO at Trezy, emphasiSed the importance of addressing SME owners’ concerns regarding cash flow management. He said: “69% of SME owners say they lose sleep at night because they worry about their cash flow. It’s their number one concern and with good reason. With inflation reducing margins, economic conditions hitting growth and financial processes becoming increasingly complicated, there is a huge burden on SMEs. Our goal is to support business owners by giving them easy-to-access, real-time financial insights that will help them to manage their cash flow and, regardless of their financial literacy, make better decisions.
“Accountancy software has really helped with day-to-day admin and compliance, but it doesn’t provide intelligent support for financial decision-making. This is where Trezy comes in and with this funding we will be able to further develop our platform to help achieve our vision of empowering small business owners on a global scale”
Support from Prominent Investors
The Seed Round was led by Seedcamp and Playfair, who recognized the potential impact of Trezy’s cutting-edge technology. Trezy’s automated enrichment and categorisation of bank transactions sets it apart in the financial management landscape. The ability to merge bank transaction data with accounting information provides actionable insights that can significantly influence financial decision-making for businesses.
Henrik Wetter Sanchez, Partner at Playfair, said: “We are thrilled to support Trezy, a game-changing solution addressing the crucial need for real-time financial management in the SME landscape. Trezy’s innovative approach to combining bank transaction data and accounting data, along with their AI-driven technology, has the potential to revolutionise the way businesses make informed financial decisions. We firmly believe in the vision and dedication of Quentin, Pierre, and their team, and we’re excited to be a part of their journey to empower SMBs around the world.”
Founded in 2020 by Quentin Lacointa and Pierre Houdyer –Trezy, already operating in France, the Netherlands, and the UK, plans to utilise the funding to support its customer base growth and expand its product offering. With a vision to empower small business owners globally, Trezy aims to simplify financial management, enhance decision-making capabilities, and drive business growth.
The company has previously received funding from notable investors, including Notion VC, Pareto20, Michael Pennington (Co-Founder of Gumtree), and Ventures Together.
Felix Martinez, Principal at Seedcamp, said: “We are always on the lookout for solutions that can make a significant difference in the business world, and Trezy is undoubtedly one of them. Their cutting-edge technology that automates the enrichment and categorisation of bank transactions sets them apart in the financial management landscape. Bank transactions, being the main source of financial data today, often lack crucial information for actionable insights.”
Stefan Jeschonnek, Founding Partner at Discovery Ventures and previously Co-Founder of SumUp, said: “As someone who has been deeply involved in the fintech space, I am truly impressed by Trezy’s innovative approach to financial management for SMEs. Their ability to seamlessly merge bank transaction data with accounting information, while automating enrichment and categorisation showcases their dedication to staying ahead of the curve. Trezy’s technology has the power to revolutionise how businesses handle financial decision-making, allowing SMEs to focus on growth and development.”