Practically two years after securing $20 million in Sequence A capital, B2B monetary options startup Simetrik is again with further funding to the tune of $55 million in Sequence B funding.

The Colombia-based firm is creating monetary automation expertise round report centralization, reconciliations, controls, reporting and accounting. The place it’s differentiating itself is thru its Simetrik Constructing Blocks, or SBBs, that are scalable and adaptable ideas primarily based on no-code growth and generative AI applied sciences.

“There are a variety of controls and automations that must be achieved within the CFO’s workplace, together with monetary flows, and lots of others which are presently run manually,” Santiago Gómez, co-founder and COO of Simetrik, informed TechCrunch. “By no means earlier than has there been this strategy. We had an orchestration platform, which we left behind, and at the moment are devoted to software program for CFOs.”

Goldman Sachs Asset Administration led the funding and was joined by Sequence A lead FinTech Collective, and Cometa, a seed investor, Falabella Ventures, Endeavor Catalyst, Actyus, Moore Strategic Ventures, Mercado Libre Fund and the co-founders of Vtex.

The brand new capital offers Simetrik over $85 million in whole venture-backed funding so far. After we beforehand profiled Simetrik in 2022, the corporate’s valuation was over $100 million. This new spherical is taken into account an “up spherical,” nevertheless, co-founders Alejandro Casas and Santiago Gómez declined to say by how a lot.

Prior to now two years, the corporate grew to have purchasers in additional than 35 international locations, up from 10, and is monitoring over 200 million information day by day. Beforehand that was 70 million information each day. Income additionally grew 4 occasions because the Sequence A.

Simetrik co-founders Alejandro Casas and Santiago Gómez. Picture Credit: Simetrik

Along with high-growth Latin American entities like Rappi, Mercado Libre, Nubank, Oxxo and PayU, the corporate is working with PagSeguro, Falabella and Itaú, and has partnerships with companies together with Deloitte. Simetrik additionally expanded its footprint in Asia to incorporate India and Singapore.

The usage of the brand new funds will go into additional creating the Simetrik Constructing Blocks, enhancing AI capabilities and persevering with to develop Simetrik’s worldwide attain.

“There’s an explosion of fintechs and fintech services and products, not solely with startups, but in addition banks and establishments are moving into these merchandise,” Alejandro Casas, co-founder and CEO of Simetrik, informed TechCrunch. “They’ve extra studies and bigger volumes of information, but are nonetheless utilizing handbook processes. They want a brand new strategy, and that’s the place our constructing blocks have a powerful product market piece.”