Finmark

Finmark — the platform of financial modeling founded in 2020 for startups. Finmark configured by software replaces external financial resources. It is integrated with the leading programs for accounting, payroll and carrying out payments, including QuickBooks, Xero, Stripe, Zuora, Gusto and ADP. Also through the Finmark platform it is possible to manage personal bank accounts.

History

2020: Attraction of $5 million investments

At the end of October, 2020 Finmark announced attraction of $5 million investments. The number of those who invested in a startup included AltaIR Capital venture fund, the founder Igor Ryabenky on the page on Facebook reported it.

In AltaIR I often see how the young companies lack time and understanding for creation of the working financial model. I hope, using Finmark now, faunder will be able to avoid errors and to focus on implementation of strategic plans. Creation of such solutions is necessary for the market for a long time! For our projects Finmark — the interesting and useful solution — he wrote.

The Russian Altair Capital invested in the platform of financial modeling for startups

According to Ryabenky, Finmark provides the simple and comfortable platform for startups which takes difficult financial concepts and calculations and processes them that startups could update, check and share the financial performance easily.

In addition to AltaIR Capital, invested more than 30 entrepreneurs and angel investors in Finmark. As the basic of investors within last round of financing the Idea Fund Partners fund with the assistance of Bessemer Venture Partners and Draper Associates acted.  Finmark assessment according to the results of the investment transaction is not called.^[1]

The raised funds of Finmark are intended to be spent for financial planning of own business and also business clients. It is noted that the acting investors gather will continue to invest within Series A round.^[2]

Notes