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Candis, an automation solution for accounts payable (AP) processes, has raised $16 million in its latest funding round led by Viola FinTech. A repeater, Lightspeed and Viola Ventures also participated.
Candis Raises $16 Million
This round brings the total funding to $30 million (previously, the company raised 12 million in Series B in August 2020).
Based in Berlin, Germany, Paytech is now focused on expanding its product offering in Payments, building further integrations, doubling down on its core invoice management capabilities and expanding its team.
We will be launching a company credit card that will provide a centralized view of all company expenses in real time. The addition of this feature, it claims, will provide a “comprehensive solution that covers the entire customer journey from purchase to payment.”
Candis says its product replaces Excel, email, and signature folders (the “triangle of disaster”) with streamlined, automated processes.
It also boasts “smart integrations” with DATEV, Sage, Wolters Kluwer, and other accounting platforms. A key by-product of account platform integration is an audit-ready invoice archive that simplifies compliance, he adds.
Candis CEO Christian Ritosek said:
This latest funding round is an important step in solving that underlying problem, and our technology and triple-digit growth over the past two years, both, put our solution at the forefront. recognition.”
The company reports that its invoice processing volume has increased ninefold to more than 20 billion in the last two years.
Candis says it has worked with over 4,000 customers and over 200 partners to date.
