NewAlpha Asset Management, through its FinTech * venture capital fund, is announcing its tenth investment by leading the € 4 million funding round along with Go Capital, Anaxago and other historical investors
Created in Paris by Romain Passilly in 2016, Fred de la compta aims to become the preferred technology and commercial partner of all accounting firms. Thanks to a patented technological innovation based on artificial intelligence, this collaborative platform facilitates exchanges between the accounting firm and their clients SMEs, automates the process of accounting capture, and thus generates significant productivity gains.
Two new digital offers complete this value proposition for accountants to increase their growth potential: a recruitment service for experienced employees with new technologies and a customer development service that allows customers to be offered outside the established coverage area of accounting firms.
These tools and services are intended to provide SMEs with a higher quality relationship with their accountant through digital solutions offering a modern and fluid user experience.
In 2018, the company was awarded the gold medal in Le Monde du Chiffre ranking and published a white paper entitled "The Odyssey of Accountants" which helps to structure the digital transformation of accounting firms. More than 200 firms are on the waiting list to integrate the tool with their employees.
The company will rely on this fundraising to accelerate its growth, invest in new technological innovations, expand its range of products and services and expand its business in Europe.
"To lead this round, our choice naturally fell on NewAlpha. In 2015, they launched the first French venture capital fund dedicated to Fintech. NewAlpha has a team perfectly in tune with this universe. They have already proven their ability to support the growth and development of the largest nuggets in the field of technology in financial services, "said Romain Passilly, co-founder of Fred de la compta.
"Accounting is an essential element for the management, development and financing of companies. For SMEs, improving production in relation with a chartered accountant is therefore a major financial issue," says Lior Derhy, Managing Partner of NewAlpha AM in charge of Private Equity, adding " we are delighted to take part in Fred's future growth."
"The technologies patented by Fred de la compta will catalyze the digital transformation and development of accounting firms," said Jonathan Cohen Sabban, Managing Director at NewAlpha AM.
* This fund is reserved exclusively for professional clients within the meaning of MiFID