consalio receives 1.2 million euros for more transparency in consulting costs

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

Düsseldorf - consalio is receiving 1.2 million euros in funding to meet rising demand for effective cost management in consulting services. The company has tripled its customer base since the beginning of the year, including several DAX-listed companies. consalio's software solution gives companies full transparency over 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 offers department heads an easy way to track their consulting expenses 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 enables the mapping of all types of service providers, from law firms to agencies, consultancies and freelancers.

With the fresh capital, we will further expand our platform and offer our customers even more comprehensive transparency about their consulting costs.

Felicia Mundhenke, CEO & Co-Founder consalio

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

With the fresh capital, consalio plans to further expand the platform and offer customers more comprehensive 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 increasing customer demand.

consalio is a B2B software solution headquartered in Düsseldorf, Germany. The platform enables companies to transparently manage costs and efficiently control projects 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 already reported on a successful pre-seed of the startup in summer 2022.