French fintech company, Indy, has raised €35 million in a Series B funding round led by Singular, with renewed support from Alven and Kerala. Indy has developed a machine learning-based accounting automation solution that allows independent workers to easily complete all their declarations, including declarations 2035, 2033 and 2065, balance sheet, profit and loss account, VAT declaration, social declaration, and more.
The company currently has 40,000 clients, mainly self-employed entrepreneurs and liberal professions, and employs more than 100 people. This new funding round will allow Indy to develop new functionalities, expand its offering to more tax regimes, and launch in the US market.
Indy is a subsidiary of Georges.tech, a French start-up that develops artificial intelligence solutions for accounting and financial management. Founded in 2017 by Romain Streichemberger and Guillaume Desloges, the company aims to simplify the lives of entrepreneurs by automating administrative tasks.
Singular is a venture capital firm that invests in European technology start-ups. It has previously invested in companies such as Delivery Hero, Made.com, and Darktrace. Alven is a French venture capital firm that invests in early-stage technology companies. Its portfolio includes companies such as Stripe, Dataiku, and Drivy. Kerala is a French venture capital firm that invests in early-stage technology companies. Its portfolio includes companies such as Heetch, Payfit, and Swile.