Candis raises around 16 million euros

The start-up wants to simplify invoice management with artificial intelligence. That convinces new backers.

Berlin-based startup Candis has raised about 16 million euros in its latest round of funding, as EU startups reported. According to the report, the funding round is being led by

Viola Fintech led. Existing investors Lightspeed and Viola Ventures also participated in the round.

Christian Ritosek, Christopher Becker and Garik Suess founded Candis in 2015. With the platform it has developed, the startup aims to help small and medium-sized enterprises automate financial processes. These processes include invoice receipt, data entry, invoice approval and data export. The startup says it has worked with more than 4,000 customers and more than 200 partners since its inception.

With the new investment, the company now plans to expand its product offering to include payments and introduce new invoice management features. It also plans to expand its team. In addition, it wants to offer corporate credit cards that provide a centralized overview of all company spending in real time, so companies don't have to wait weeks for a monthly statement.