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CashDirector, a scaleup accelerated by EIT Digital, raises €3m to boost international growth

CashDirector team

CashDirector, an AI-enabled Digital CFO for SMEs with operations in Poland, France, Germany and Italy, is further expanding its services in Europe with the support of EIT Digital Accelerator and a recent financing round led by one of the largest Polish Investment Funds, EEC Magenta.

Polish scaleup CashDirector offers an AI-based Digital CFO solution designed for SMEs that integrates with any bank’s online channel, allowing them to provide financial management services to small businesses at an affordable price.

Through CashDirector, banks obtain valuable touchpoints and leads, can accurately evaluate risk and offer personalised on-demand products in an efficient manner.  The Digital CFO platform also allows businesses owners to save time by automating daily finance management, understand their cash-flow needs in real time, and interact online with their bank to balance short-term deficits or get funding for a business opportunity.

CashDirector has successfully proven its value proposition in the Polish market, serving over 100,000 entrepreneurs and SMEs as customers, and has established strategic partnerships with mBank, BNP Paribas, Millennium Bank and Nest Bank. In addition, CashDirector has begun its international expansion through two banks based in Belgium.

With the new funding round, CashDirector aims to consolidate its position in Poland and accelerate its growth plans across Europe, focusing initially on the Benelux region as well as France and Germany. “We are thrilled to welcome EEC Magenta, one of the largest and most experienced Investment Funds in Poland, as one of our investors supporting us in our global expansion strategy” - says Rafał Strzelecki, CEO and founder of CashDirector.

CashDirector was identified by EIT Digital through its flagship pan-European competition for deep tech scaleups in the digital space, the EIT Digital Challenge. The company was among the 25 finalists in the 2019 edition of the competition. It then joined the EIT Digital Accelerator, team of financing experts began to work with CashDirector in preparing, launching and organising this fundraising round.

“The EIT Digital Accelerator delivered invaluable support during the fundraising process: in addition to providing critical feedback and advice, their coordinated efforts allowed us to meet with key Venture Capital and Corporate Venture Capital funds from across Europe in a very short period of time.”-  added Patrycja Strzelecka, CCO and Co-Founder of CashDirector.    

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