I spoke with Christian Ritosek, co-founder and CEO of CANDIS. He’s helping finance departments in German companies improve their AP technology. He should pass $10M ARR this year as CANDIS expands into Europe.

CANDIS, a Berlin, Germany-based fintech software provider, raised $16 million in its latest funding round to assist businesses in automating their accounts payable (AP) function, bringing CANDIS's total funding to $30 million.

The round was led by Viola FinTech and returning investor Lightspeed, and Viola Ventures also participated in the round. With a focus on the SME market, it will now concentrate on expanding its product offering with payments, building additional integrations, doubling down on core invoice management functionality, and expanding the team.

Founded in 2015
Started as a consulting agency
Focused on the German market but expanding this year
110 staff, HQ in Berlin
$30M raised to date
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Christian Ritosek’s LinkedIn: https://www.linkedin.com/in/christianritosek/

Fundraising Story: https://www.thesaasnews.com/news/candis-raises-16-million-in-funding

Fast Growing German Fintech Raises $16M to Automate Accounts Payable