Regate obtains 20 million euros to simplify financial management in France and beyond
From 2024, all companies in France will be required to receive their invoices electronically via a specialized public or private portal approved by the tax authorities. Only certified platforms will be able to send invoices directly to the tax authorities. Therefore, the need for companies to automate manual tasks to focus on their core business will increase.
Betting big on new demand, Parisian fintech Regate has provided 20 million euros in a Series A funding round to automate the financial and accounting management of companies. This financing was supported by the Valar Ventures fund, alongside its two historical investors 360 Capital and La Financière St-James. The startup previously raised €7 million in a seed funding round in May 2021.
With this new cash, the French fintech intends to accelerate its product investments and develop in Germany and Spain.
Founded in 2020 by Laura Pallier and Alexis Renard, the startup aims to minimize the multiplication of tools and automate all the financial and accounting management of a company on a single platform, shared with the accounting firm. To do this, the company works with accounting solution providers to provide a collaborative user experience.
Laura Pallier, co-founder of Regate declared: “Aware of the technological excellence and know-how in terms of accounting production of software publishers such as Sage, Cegid and MyUnisoft, we wanted to interface with them and benefit from their experience rather than seeking to substitute us for theirs. These partnerships are an integral part of our development strategy. We also signed a major agreement with Sage, which distributes us directly to their accounting clients.
James Fitzgerald, founding partner of Valar Ventures, added: “We were excited about the huge market potential in Europe, which is currently undergoing a revolution.”
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