Simetrik Secures $30 Million in Series B Funding

Simetrik, a B2B SaaS platform providing AI-driven automation for financial reconciliation, has raised an additional $30 million in Series B funding, bringing the total to $85 million. This round was led by Growth Equity at Goldman Sachs Alternatives, with participation from Cometa, FinTech Collective, Moore Capital Management, Monashees, and Upload Ventures. Simetrik's no-code platform processes over one billion records daily, offering finance teams a single source of truth for reconciliation data.

The funding will be used to scale Simetrik's U.S. presence and accelerate expansion into other high-growth markets. The company's platform automates 100% of reconciliation workflows, providing real-time alerts for exceptions and helping clients improve margins and manage complex international payments. Simetrik boasts a strong customer base including major players like Santander Group, Sephora, and Mercado Libre.

Simetrik's AI-powered solution addresses the challenges of fragmented systems and increasing transaction volumes in the financial sector. By automating reconciliation processes, Simetrik helps companies shorten monthly closes, improve forecasting, and enhance risk modeling. The company's rapid growth and impressive customer list demonstrate the significant market demand for its innovative platform.

The investment from Goldman Sachs and other notable firms underscores the confidence in Simetrik's potential for continued growth and market leadership in the rapidly evolving financial technology landscape. The company's focus on AI-driven automation positions it well to capitalize on the increasing need for efficient and accurate financial reconciliation solutions.