Written by Alex Bredeen
Outmin, the automated accounting solutions platform, has raised €1.5m in funding led by Middlegame Ventures and followed by Fuel Ventures, KellySan Enterprises Ltd and several strategic angel investors to enhance and develop their technology that tackles the distraction of financial admin.
What is Outmin?
Outmin currently provides outsourced accounting and bookkeeping services to SMEs in Ireland and the UK, primarily in the technology and hospitality industries. Through leveraging AI and cloud technology, Outmin provides a best-in-class experience that helps businesses to tackle the administrative burden and dramatically reduce costs, with some clients already saving to up to €100k a year by using the service.
In an uncertain time, Outmin enables business owners to make rapid, data driven decisions by ingesting company data from various sources and standardising it, generating clear, actionable data points for SME owners and operators.
Outmin is paradigm shift for small businesses that enables them to focus on their customer experience and product without worrying about finance and admin chores
For too long business have been told that of “faster, better, cheaper” they can only choose two, by leveraging AI and cloud technology Outmin delivers all three for your finance department by replacing your bookkeeper, accountant and in-house finance staff with a single log in - all while providing you with actionable data faster than anything else on the market.
This investment will give Outmin the capacity to continue developing its cutting-edge technology and meet global demand to provide SMEs with a peerless service that improves business information while cutting costs and saving time on their financial admin.
Speaking about the raise, co-founder of Outmin, David Kelleher said:
"Many industries are facing financial uncertainty. SMEs are among the first to feel the strain and cutting costs, streamlining in-house administration and gaining valuable business insights can be paramount during these periods. This fundraise will enable us to help more and more small business owners reduce costs and get quicker, better data about their business to inform their decision making in these uncertain times."
Why Outmin?
Outmin replaces the need for costly finance hires and multiple software systems, subscriptions and packages used by SMEs, by providing better quality data faster, with less effort by the client, all with a single login. Once onboarded, Outmin receives all the business’s data, eliminating the lengthy integration processes and giving business owners and operators the opportunity to focus on task that improve their product or customer experience.. This investment marks another significant milestone in Outmin’s rapid expansion, with future funding rounds expected to come sooner than anticipated due to Outmins accelerated revenue growth.
Outmin has 150 clients currently using it’s platform, offering a unique approach combining professional services with automation, providing easy-to-use technology powered by human expertise and experience. The platform provides businesses with an accountant, bookkeeper and accounting software as a consolidated service, eliminating the need for multiple employees and software packages, that takes care of everything from payroll and expenses management, to tax returns, compliance filings and many other administrative services, meaning businesses can focus on what’s best for the business, rather than admin.
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