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(Editor鈥檚 Note: This is an article written for 听产测听 and shared with Crunchbase News as part of a news-sharing partnership.)

, a Berlin-based automated accounting platform, has raised a 12 million euro Series B round led by and , the investment arm of . Existing investors , , and also participated. The fresh capital will help develop the startup鈥檚 machine-learning engine and fuel expansion within Europe.

鈥淪MBs in Central Europe have a void when it comes to efficient and effective accounting and financial processes,鈥� said Omry Ben David, partner at Viola Ventures.

That鈥檚 where steps in. The fintech platform automates manual bookkeeping, accounting processes and B2B payments for mid-market companies and their tax advisers.

鈥淥ur machine-learning based technology disrupts a whole industry, in which the majority of tasks are still very manual,鈥� adds Christian Ritosek, the startup鈥檚 co-founder and managing director. 鈥淭he pattern recognition engine automates accounting workflows and empowers companies with real-time data and insights to make better financial decisions.鈥�

Founded in 2015, the German company claims its business has grown 500 percent since its last funding round, an undisclosed Series A at the end of 2018.

Photo: Candis founders

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