MiddleGame Ventures led the €1.5M Seed round with participation from Fuel Ventures and strategic angels.
The traditional accounting market is broken – legacy accounting processes and tools do not work for small, high-growth companies. SME business owners are required to spend a considerable amount of time and money on professional services and / or solutions that do not resolve the underlying friction points, therefore diverting crucial resources away from other value-add activities. Moreover, SME business data is difficult to standardise making it challenging for business owners to extrapolate actionable insights to grow their businesses.
Dublin-based Outmin enables SMEs to maintain a best-in-class finance function with minimal time, cost and effort.
Venture Partner Ellen McCance shared her thoughts on the investment: “Outmin is changing the game for SMEs by making the accounting and bookkeeping process straightforward and simple, using cutting-edge AI technology. We are excited to partner with Ross, David and the Outmin team who have adopted a truly customer-centric approach to solving a pain point that is endemic across the SME segment. The platform allows SME leadership to focus on running the business, while Outmin takes the headaches out of the finances.”
You can read more about Outmin and the funding round here.