Dealflo, the leading provider of end-to-end, cloud financial agreement automation software, today announced a £10 million investment round. The funds will allow Dealflo to expand its commercial operations into new sectors and geographies, as well as invest in its innovative product roadmap.
Founded by an experienced team of industry experts, Dealflo has grown its recurring revenue base by over 500% since its last round and was named to the 2016 Deloitte UK Technology Fast 50. It now has more than 60 employees, with operations in the UK and North America.
The Series B round involved Holtzbrinck Ventures & Frog Capital, together with existing shareholder, Notion Capital.
Dealflo provides unique, end-to-end financial agreement automation services, processing more than $10bn of annual financial transactions for companies including BNP Paribas, BMW and Prudential. The company reduces risk and cost for its users from a legal and compliance perspective, while increasing conversion and improving user experience by automating the entire process.
“In this round of funding it was important that we chose investors that understood the sectors we operate in and have the experience to help us to continue our growth in key markets internationally,” said Abe Smith, CEO, Dealflo. “We have seen phenomenal growth since we founded the business in 2012 and this investment will enable us to deliver to global clients on a global scale.”
Mike Reid, Managing Partner at Frog Capital said “This is FinTech solving real problems. Dealflo’s solution is helping major, international clients cope with the triple whammy; more regulation, efficiency by going 100% digital and need for rock solid evidential back-up. We’re delighted to be supporting Abe and his team in building a major financial software powerhouse.”
