Round receives 6 million dollars for AI-supported financial automation
The London-based fintech Round has closed a seed financing round in the amount of 6 million US dollars. The lead investor is Alstin Capital, other investors are Backed VC and Love Ventures.
Existing investors such as Passion Capital have also increased their participation. Business angels, including Paul Forster, also participated.
Automation for modern finance teams
Round is developing an AI-supported platform to automate central finance processes. These include treasury management, payments and payroll.
The solution is aimed at fast-growing companies and is already being used by companies such as Cleo and PostHog.
The aim is to reduce manual tasks in finance teams and make processes more efficient.
Infrastructure instead of pure AI assistance
Unlike many AI solutions in the financial sector, Round combines artificial intelligence with its own financial infrastructure.
The platform integrates into existing banks and ERP systems and takes over operational processes automatically. Finance teams define rules such as approvals, payment plans or liquidity limits, while the platform takes care of execution.
Two new products presented
Round is announcing two new functions with the financing:
Agent Workflow Builder Finance Teams can describe processes in natural language. The platform uses this to create automated workflows that run independently in the background once approved.
Autonomous Payroll Payroll processing is fully automated. From preparation to approvals to payment, the platform takes care of all the steps.
Strong growth and scaling
Since the introduction of the first automation functions, Round has processed transactions worth over 500 million US dollars.
The company sees itself as an infrastructure layer for modern financial processes and addresses the trend of automating repetitive tasks through AI without replacing the control of finance teams.
Use of the funds
The fresh capital will be used for the expansion of the platform, additional integrations with banks and financial systems and the expansion of the engineering and go-to-market teams.
Round also plans to invest more in community formats such as workshops and hackathons.
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