Quipu, the financial administrative management software for SMEs, has closed a funding round of 2 million euros with international investors. In addition, Dan Kragt is incorporated as CEO of the company, number two of the multinational TMF. With the closing of the round and the incorporation of Kragt, Quipu adds up all key pieces to integrate the administrative processes of businesses.
The Barcelona-based startup Quipu, born within the Itnig group 5 years ago, was built to digitalize SMEs as no one has done before. Its strategy is to digitalize all the administrative processes, eliminating all the paperwork, doing automatic accounting of every ticket and invoice, synchronizing and matching invoices with no effort from all bank accounts, and acting as a management tool allowing communication with accountants.
This value proposition convinced Dan Kragt together with a group of international investors to join the project to boost its growth in Spain and soon in the rest of the world.
In these 5 years, Quipu has managed to build a network of certified partners around Spain that manage their clients through its platform. “It’s unbelievable how humble professional offices are letting a group of young technical people redesign their workflows”, states Dan.
“Bearing in mind the changes that the public administration, the banking system, the backoffice technologies, and payment methods are suffering, there is no other way than getting digital!”. The best formula is to do so without large investments and without giving up on traditional bookkeeping software.
In the next few years, Dan plans to implement this Spanish success case to other countries, following the steps he took at TMG. The business management market is one of the largest in the world and continues being highly inefficient. That’s why a group of international investors has invested €2 million to help the company grow.