consalio receives 1.2 million euros for more transparency in consulting costs

The Düsseldorf-based company consalio receives €1.2 million in funding to meet the growing demand for effective cost management in consulting services.

Düsseldorf - consalio receives 1.2 million euros in funding to meet growing demand for effective cost management in consulting services. The company has tripled its customer base since the beginning of the year, including various DAX companies. consalio's software solution provides companies with full transparency of their consulting costs and achieves savings in the use of resources.

Until now, it has been a challenge for specialist departments to track and compare the exact costs of their consulting services. consalio solves this problem and provides department heads with an easy way to track their consulting spend and make informed decisions. This results in cost efficiencies and time savings. In addition to cost savings through proactive management, manual reporting efforts can be reduced and approval processes can be made more efficient. consalio's approach makes it possible to map all types of service providers, from law firms, agencies and consulting firms to freelancers.

We will use the fresh capital to further expand our platform and offer our clients even greater transparency regarding their consulting costs

Felicia Mundhenke, CEO & Co-Founder consalio

The financing round was closed with 1.2 million euros. The investors include Raakwark Kaptaal, NRW.BANK and business angels such as Oliver Dehning, Benjamin Ruschin and Hendrik Sämisch. The existing investors have also increased their commitment to consalio. Stefan Dörpinghaus from NRW.BANK is convinced of the company's development to date and is investing directly in consalio with NRW.SeedCap.

With the fresh capital, consalio plans to further expand the platform and offer customers greater transparency about their consulting costs. The additional funds will be used to build up the sales team and expand the development team in order to continuously optimize the platform and meet growing customer demand.

consalio is a B2B software solution headquartered in Düsseldorf. The platform provides companies with transparent cost management and efficient project control for all consulting services. Customers can view and compare their consulting costs in real time and approve them before invoicing. The company was founded in 2021 and is led by founders Felicia Mundhenke (CEO) and Seong-Min Kang (CTO). We reported on a successful pre-seed of the start-up back in summer 2022.