Simetrik, a business to business (B2B) financial solutions platform founded in Colombia, has raked in $55m in a Series B funding round.
The financing round was led by Growth Equity at Goldman Sachs Asset Management (Goldman Sachs).
It also had participation from FinTech Collective, Cometa, Falabella Ventures, Endeavor Catalyst, Actyus, Moore Strategic Ventures, Mercado Libre Fund, and Vtex’s co-founders.
Goldman Sachs Asset Management growth equity vice president Natan Reinig said: “Financial automation is a thriving industry worldwide, and we were impressed by Simetrik’s solutions.
“We believe this investment will allow it to expand even further through the Latin American market and beyond. We are thrilled to lead this Series B round.”
Previously, FinTech Collective led the Series A round while Cometa led the seed round.
Established in 2019, Simetrik is said to have created user-friendly solutions to streamline and automate significant financial tasks such as record centralisation, reconciliations, controls, reporting, and accounting.
The firm’s products are based on Simetrik Building Blocks (SBBs).
According to the company, SBBs are a scalable, adaptable, and intuitive concept based on no-code development and generative artificial intelligence (AI) technologies.
The SBBs, which are customised to the dynamic needs of chief financial officers (CFOs) and their teams, are expected to further evolve with the new funding round.
Simetrik aims to utilise the new capital to help expand its international reach, focusing on key payment companies and consumer marketplaces across the globe.
Simetrik co-founder and CEO Alejandro Casas said: “This funding marks a pivotal step for Simetrik in reinforcing its role in the rapidly transforming financial sector and expanding its global reach.”