German startup Donnerstag.ai raises €4.3 mn to stop invoice losses
Invoices are a crucial aspect of any business, as they represent the lifeblood of a company’s revenue stream. However, despite their importance, invoices can often slip through the cracks, causing businesses to lose money without even realizing it. This can happen due to a variety of reasons, including lost or misplaced invoices, incorrect payment amounts, or simple human error. The consequences of these losses can be significant, resulting in reduced cash flow, decreased profitability, and even damage to a company’s credit rating.
To address this issue, a German startup called Donnerstag.ai has developed an innovative solution that uses artificial intelligence (AI) to match deliveries, invoices, and payments in real-time. This technology helps suppliers to identify missing money before it’s written off, thereby preventing significant financial losses. The company’s platform is designed to streamline the invoicing process, making it more efficient, accurate, and reliable.
Recently, Donnerstag.ai announced that it has raised €4.3 million in funding from investors, including Speedinvest and QED Investors. This investment will enable the company to further develop and expand its AI-powered receivables platform, with a focus on the DACH region (Germany, Austria, and Switzerland). The funding will also be used to enhance the company’s sales and marketing efforts, as well as to build strategic partnerships with key industry players.
Donnerstag.ai’s platform uses machine learning algorithms to analyze large datasets related to deliveries, invoices, and payments. This analysis enables the platform to identify potential discrepancies and anomalies, such as missing invoices or incorrect payment amounts. The platform can also automate many of the manual tasks associated with invoicing, such as data entry and reconciliation, freeing up staff to focus on higher-value activities.
One of the key benefits of Donnerstag.ai’s platform is its ability to provide real-time visibility into a company’s cash flow. This enables businesses to make more informed decisions about their financial management, such as optimizing their payment terms and improving their working capital. The platform can also help companies to reduce their days sales outstanding (DSO), which is a key metric for measuring the efficiency of a company’s accounts receivable process.
The market opportunity for Donnerstag.ai’s platform is significant, with the global accounts receivable market expected to grow to €1.4 trillion by 2025. The company is well-positioned to capitalize on this trend, with its innovative AI-powered platform and strong focus on the DACH region.
The investment in Donnerstag.ai is a testament to the company’s potential and the growing demand for innovative solutions in the accounts receivable space. Speedinvest, one of the lead investors, is a well-known venture capital firm that has backed several successful startups in the fintech and AI sectors. QED Investors, another lead investor, is a specialist venture capital firm that focuses on investing in innovative financial technology companies.
In conclusion, Donnerstag.ai’s innovative platform has the potential to transform the way businesses manage their invoices and cash flow. With its AI-powered technology and strong focus on the DACH region, the company is well-positioned for success. The recent investment of €4.3 million will enable Donnerstag.ai to further develop and expand its platform, and we can expect to see significant growth and innovation from this exciting startup in the months and years to come.
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