Profluo, a startup that automates a company's financial processes using AI, has attracted investment from corporate venture capital fund BCR Seed Starter, Inspire Capital, and other investors in a EUR 850,000 funding round. BCR Seed Starter, which led the round, invested EUR 500,000 in Profluo. 

The funding will support the company's plans to scale its solution internationally in the near future.

In 2022, Profluo secured a EUR 500,000 seed round of investment from Early Game Ventures (EGV).

Profluo was founded in 2016 by Bogdan Năforniță, a specialist with over 25 years of experience in both corporate and entrepreneurial environments, and Cosmin Merișescu, who has coordinated and managed software and agile web projects for more than 20 years. 

The platform it developed digitalizes and automates document processing and accounting flows through intelligent virtual agents that can scan, process, and reconcile large volumes of documents. It operates like a virtual accounting team in which each digital agent is assigned to a specific workflow, such as detailed accounting, treasury management, commercial controlling, customized automatic approvals, employee advance payments, and reimbursements.

"We will use the capital raised to strengthen key departments, enabling us to scale rapidly at the international level. At the same time, our mission remains the same, aligned with our values with which we started this journey: to redefine, through relevant, accurate, and immediately applicable Artificial Intelligence, the way in which financial and operational departments handle complex and massive flows of documents and financial-accounting data, bringing efficiency and transparency, thus freeing up people's time for more creativity and strategy," Bogdan Năforniță, CEO & co-founder of Profluo, said.

"We see Profluo as a valuable opportunity in a market segment with huge potential for transformation. The global market of AI based solutions for the automatization of financial and accounting processes is one of the largest and most dynamic in the enterprise software sector, and the need that Profluo addresses is universal: every company, regardless of size or industry, processes financial documents and can benefit from the efficiency and accuracy brought by this technology," Adrian Roșoagă, Chief Investment Officer, BCR Seed Starter, said.

Launched in January 2024, BCR Seed Starter invests up to EUR 600.000 in technology startups seeking seed-stage funding. 

(Pictured: Cosmin Merișescu and Bogdan Năforniță, photo: BCR)

simona@romania-insider.com