Ghent, Belgium based accounting platform Silverfin has raised $4.5m in Series A funding led by Index Ventures. Silverfin offers a “connected accounting platform” to help businesses stay on top of their financial data.
Founded in 2013, Silverfin’s platform plugs into popular accounting software and other financial data sources to help finance departments, accountancy firms and consultants, such as external tax specialists, get much better real-time visibility of a company’s financial data. Or another way to describe it might be “Salesforce for financial data,” since stakeholders can communicate via the platform, too. The idea is to consolidate (or rely less on) myriad legacy and fragmented financial software tools, applications and, of course, Excel spreadsheets, and in turn reduce the tendency for error, including automatically flagging anomalies. It’s also designed to make generating reports, such as those that are required quarterly or yearly, a lot less painful and updatable in real time.