Irish fintech startup Outmin has secured €4 million in a new funding round led by Praetura Ventures through its Praetura EIS Growth Fund and NPIF II — Praetura Equity Finance. The funding will fuel the expansion of Outmin’s AI-powered financial platform, which automates bookkeeping, payroll, and accounting for small and medium-sized businesses.
Founded in 2020 by Ross Hunt and David Kelleher, Outmin is redefining how SMEs manage their finances through machine learning that eliminates manual reconciliation and reduces accounting costs by up to 66%.
As part of the growth push, Feargal O’Rourke, former Managing Partner of PwC Ireland, has been appointed Chairman. O’Rourke cited the strength of the founding team, company culture, and the platform’s disruptive potential as key reasons for joining. “Outmin’s AI journey has the potential to revolutionize bookkeeping and become a global leader,” he said.
With more than 350 business clients and partnerships with 12 accounting firms, Outmin plans to scale operations across the UK and Ireland, grow its team, and enhance product capabilities with this latest investment.
Featured image: Credit: Outmin
