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FinTech firm automating financial agreements closes £10m Series B

London-based FinTech firm Dealflo has closed its £10m Series B round led by Delivery Hero backer, Holtzbrinck Ventures.

Featuring follow on investment from Notion Capital and participation from Frog Capital, this latest round brings total funding in the company, which has its headquarters in Montreal, to £13.5m and will support the expansion of Dealflo’s services into ‘new sectors and geographies’ as well as product innovation.

Founded in 2012, the company provides automated financial agreement services, including verfication, e-signatures and document generation, through its cloud platform, and already works with the likes of BNP Paribas, BMW and Prudential.

Following the round’s closure, Abe Smith, Chief Executive Officer at Dealflo commented: “In this round of funding it was important that we chose investors that understood the sectors we operate in, and who have the experience to help us to continue our growth in key international markets.

“We have seen phenomenal growth since we founded the business in 2012 and this investment will enable us to deliver to global clients on a global scale.”

Barbod Namini, Principal at Holtzbrinck Ventures said: “A significant and growing market such as financial services, combined with Dealflo’s unique SaaS platform, represented a highly attractive investment opportunity for Holtzbrinck Ventures.

“We saw a talented team with deep sector knowledge, a clear product vision and a proven track record of delivering into large enterprises. We are very excited to work with Dealflo to continue to scale their business in both new and existing sectors and territories.”

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