Zeitgold has raised a Series B round of$29.2 million(EUR27 million). Overall, the company has raised more than$54 million(EUR50 million ). The business is developing a software platform for little companies to automate bookkeeping as much as possible
. Vintage Financial investment Partners is leading today’s round with existing financiers Battery Ventures, HV Holtzbrinck Ventures, Saban Ventures, btov Partners, AXA Innovation Campus and Deutsche Bank also taking part.
When Zeitgold first revealed its product, the company understood that documents often ends up in a huge stack that you conceal in a drawer. As soon as you need to find that one document from months earlier, it rapidly becomes a mess. The company told you that you could put all your invoices, receipts and expenses in a box (an actual, physical box ), somebody would pick it up and look after them for you. Picking up boxes of files is a visual way to discuss the service.
Of course, numerous Zeitgold clients now utilize the company’s mobile app to scan documents as they show up. It’s far more efficient for everybody included. After that, your Zeitgold account becomes your repository for all things connected to
accounting. You can find old files by searching for what’s composed on them thanks to optical character recognition. Zeitgold tries to automatically match digitized invoices with motions on your savings account.
When the service can’t figure it out on its own, you can include information. Zeitgold will flag them and help you pay your suppliers when there are unsettled invoices. And when it’s completion of the month, you can export all your information and send it to your accountant
. Zeitgold also provides an interface for tax consultants. They can ask questions directly in Zeitgold’s user interface if there’s a missing out on document for circumstances if they utilize Zeitgold. The business states that 80%of reserving situations are already dealt with immediately by the platform. Zeitgold wishes to go one
action further and automate a lot more jobs. Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.