Simetrik, a finance business founded in 2019, has acquired US$55 million in Series B funding, with Goldman Sachs serving as the lead investor.

In recent times, Simetrik has positioned itself as a B2B fintech leader in financial operations, accounting, and financial planning and analysis (FP&A). Notably, among its clientele are PayU, Mercado Libre, and Nubank, among other notable companies.

Apart from Goldman Sachs, Cometa, Falabella Ventures, Endeavor Catalyst, Actyus, Moore Strategic Ventures, Mercado Libre Fund, the head of the FinTech Collective's Series A round, and the co-founders of Vtex are among the investors in Simetrik.

Simetrik: Scaling logical answers

With the help of its new funding, Simetrik hopes to increase the number of FinOps, accounting, and FP&A experts using its user-friendly solutions. Record centralization, reconciliations, controls, reporting, and accounting are among the solutions that Simetrik provides.

Its own Simetrik Building Blocks (SBBs) technology, which is based on no-code and generative AI technologies, is the foundation for all of its products. SBBs are scalable, flexible, and easy to use.

In fact, Simetrik can customize its service offerings to the unique, changing demands of various CFOs and finance teams within its partner organizations by utilizing no-code, Gen AI technology.

With its newfound resources, Simetrik intends to advance the development of its so-called SBBs as well as the AI capabilities that enable the business to provide clients with state-of-the-art solutions.

"This funding enables us to elevate our SBBs, integrating more advanced and secure AI to deliver unparalleled financial automation solutions," says Santiago Gómez, co-founder and chief operating officer of Simetrik.

The quick ascent of Simetrik

It is important to keep in mind that Simetrik was just established five years ago, meaning that its development rate to date has been remarkably rapid.

The organization now has a presence in more than 35 countries and monitors 200 million records daily, mostly in its two main markets of Singapore and India.

Goldman Sachs Asset Management's Vice President of Growth Equity, Natan Reinig, continues, saying, "We were impressed by Simetrik's solutions. The financial automation industry is thriving worldwide." We think that this investment will enable them to grow even more into the Latin American market and other regions. Enjoying the lead in this Series B round makes us happy.

Carlos Alonso-Torras, a partner at FinTech Collective, said: "Over the last two years, Simetrik has undergone a remarkable transformation, substantially growing its product offer, sales efficiency, geographic coverage, and strategic sophistication." Reinig's remarks highlight the confidence Simetrik's investors have in the company's continued success and expansion.

"With a committed and driven workforce, it is in a unique position to transform corporate finance operations—possibly on a worldwide scale. Although the plan is intricate and ambitious, we have faith in the company's capacity to keep raising the bar.