Berlin based financial AI company Zeitgold has raised €10m in Series A funding led by Battery Ventures and Holtzbrinck Ventures. Zeitgold creates financial management tools using artificial intelligence for small businesses that can forecast liquidity shortages so that businesses can stay on top of any shortfalls that may emerge, as well as identify areas for costs saving or revenue opportunities.
“We have founded Zeitgold to give small business owners their life back,” said Stefan Jeschonnek, cofounder of Zeitgold. “Now we have made a breakthrough in the development of our AI. We are set to provide entrepreneurs with an Artificial Intelligence that can support them in their core business decisions.” The new money is being invested into opening a new R&D facility in Tel Aviv while it will be testing and piloting new products with a number of customers. This Series A round follows its €4.2 million seed round in February, also from Battery and Holtzbrinck.