Berlin-based fintech startup Denario raises €1.3m to automate B2B payments experience for small businesses

Berlin-based fintech startup Denario announced the closing of €1.3 million venture funding led by 468 Capital, with participation from Presight Capital and MPGI, all of whom have deep experience in the B2B fintech space.

Many small businesses have struggled during the COVID-19 pandemic and business owners had to turn to banks and alternative lenders to meet their liquidity needs and assure business survival. To keep a business running requires a diverse set of skills and the surge in European entrepreneurship should be supported and not hindered by complex business admin and outdated processes that only few of us fully understand.

For this purpose, Denario is building products that work seamlessly, starting with a dashboard that is so simple that any business owner can use it without previous experience but yet offers so much connectivity and automation that any financial professional will love to use it as well.

Philipp Adrian Pohlmann, Co-founder, Denarios: ''At Denario our mission is to consumerize the business payments experience which is still largely based on paper invoices and bank transfers. By connecting buyers and sellers directly on one secure platform, our goal is to strengthen business relationships and to allow for more flexibility in the payment process.''

Most businesses find it difficult to keep track of where their money is at between their bank accounts and other finance tools. They somehow find their way through various tools while managing their internal teams, business partners, and external accountants. The level of complexity is especially high in monthly accounts payable and receivable where bank and card transactions have to be linked to their associated bills and cost centres, records have to be mapped to the right accounting entry and reporting often has to happen on a monthly basis in order to declare taxes. This is why Denario is creating an experience that automates all of the above. A software that allows its users to simply write the words: “pay my bills” and then takes care of everything else without any need for additional information.

www.denario.io