Infrastructure businesses continue to draw venture capital around the world, particularly in the payments infrastructure space. No-code is likewise a no-win situation.
Simetrik, based in Bogota, Colombia, is a firm that combines the two. It just raised $20 million in a Series A fundraising round at a valuation “north of $100 million.”
By automating reconciliation with a no-code service, the business claims its infrastructure “delivers greater control and transparency” over a company’s financial activities.
In other words, the company’s software automates reconciliation for finance teams with a large number of transactions and reports, according to co-founder and COO Santiago Gomez. It operates by reconciling financial data with the goal of giving their finances real-time visibility, traceability, and cleaned information.
“What makes us better than competitors is the fact that it is provided as a service, where finance teams are independent from tech teams in configuring a big data back end with a spreadsheet-like interface,” Gomez told TechCrunch.
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