Scaleup Finance, a Danish-founded fintech, has raised the nation’s largest-ever seed funding spherical, securing $8m (£6.4m) to carry its “digital CFO” platform to the UK.

The funding spherical, shared completely with UKTN, will help Scaleup Finance’s enlargement within the UK market, the place it would present its subscription-based platform that automates firm finance administration.

Scaleup Finance’s digital CFO platform handles reporting, budgeting, monetary modelling, and bookkeeping. Based in 2021, Scaleup Finance says it has “greater than 150” corporations utilizing its software program, which it describes as “CFO as a service”.

“Having labored with greater than 500 fast-growing corporations in recent times, I’ve seen nearly all of them battle to arrange real looking monetary fashions and deal with basic monetary administration duties, particularly throughout their first years,” stated Charlie Robinson, managing director UK at Scaleup Finance.

“They’ve a tough time figuring out their north-star metrics, which is essential for fundraising. Scaleup Finance is the reply to all of this. We take the battle out of economic administration, so founders can deal with constructing, operating and scaling their companies.”

The Danish agency’s new funding spherical was led by the British enterprise fund PROfounders Capital, together with FinVC, Clocktower VC, CircleRock Capital and several other angel buyers.

“By combining its highly effective monetary administration platform with entry to a ‘bench’ of real-life CFOs, Scaleup is ready to cater to the distinctive wants of every buyer and unencumber time for entrepreneurs to deal with constructing their companies,” stated Joe Bond, a accomplice at PROFounders Capital.

“In a brief time frame, Scaleup established a robust presence in Denmark and we will probably be seeking to replicate this early success within the UK and the remainder of Europe.”

Scaleup Finance employs 70 folks and has established a London workplace and workforce as a part of its UK enlargement.