Silverfin offers a cloud service that acts as a centralized data repository for accounting firms, automating the most time-consuming tasks such as data collection and standardization. The platform connects directly to clients' accounting software including Xero, QuickBooks, Sage and SAP, allowing firms to import and manually enrich data. Users can configure automated workflows and templates, check for compliance, collaborate with audit trails, visualize financials, and generate reports and statements. Analytics tools and an alert system enable firms to offer advisory services on top of traditional accounting work. The company was founded in Ghent, Belgium, and has expanded to London, Amsterdam and Copenhagen, serving about 650 customers including large accounting firms in Europe and North America. Silverfin plans to initially target demanding customers and potentially move downmarket to smaller firms later. Silverfin provides a connected accounting platform that plugs into popular accounting software and other financial data sources to give finance departments, accountancy firms and consultants real-time visibility into financials. The platform consolidates fragmented financial tools and Excel-based workflows, automates data collection and reconciliation, flags anomalies, and streamlines report generation. It also includes collaboration features so stakeholders can communicate around financial data, earning it the description “Salesforce for financial data.” Silverfin says 64,000 businesses manage their finances on the platform, either directly or via accountancy firms, and counts Deloitte among its users. Founded in 2013 and based in Ghent, Belgium, the company positions itself as a central nervous system for financial advisory and services firms and aims to become a real-time monitor of business financial data. The company plans to use new funding to expand its team and build out international presence, beginning with the U.K.

Total raised

$35M

Funding rounds

2

Latest round

Series B

Latest activity

Jun 2020