A gaggle of former Tink workers has raised €5 million in seed funding for his or her startup promising to assist companies automate all of their cost actions.
They’ve already secured seed funding, led by Index Ventures, for the startup, which is working to automate cost processes that are nonetheless typically achieved manually.
Atlar lets companies hook up with its platform through an API, which in flip connects to their banks. Companies’ can then automate all of their cost actions – together with initiating transfers, reconciling transactions, and dealing with direct debits.
This, says the corporate, reduces the labour demanded to take care of cash flows and enterprise information, that means funds don’t get skipped and man-hours are freed up.
Atlar has already secured a number of shoppers, together with Lassie, an insurance coverage firm, Mynt, a funds participant, and Banxware, a German fintech lender.