Latest news with #Simetrik
Bloomberg
a day ago
- Business
- Bloomberg
Goldman Sachs Leads Simetrik Series B Extension to $85 Million
Simetrik, a financial and accounting services startup, raised $30 million in fresh funding led by a unit of Goldman Sachs Alternatives. The funding adds to a series B round that the company disclosed in February 2024. At that point it had already pulled in $55 million from investors led by the growth equity team at Goldman Sachs Asset Management's alternatives platform.
National Post
4 days ago
- Business
- National Post
Simetrik Raises Additional $30 Million to Scale AI Reconciliation Platform Across the U.S. and High-Growth Markets
Article content Series B now totals $85 million; funding led by Growth Equity at Goldman Sachs Alternatives Article content NEW YORK — Simetrik, a leading AI reconciliation platform that enables enterprises to automate complex reconciliation processes, standardize financial data, and ensure compliance across millions of transactions – today announced an additional $30 million investment led by Growth Equity at Goldman Sachs Alternatives ('Goldman Sachs'). The follow-on financing brings Simetrik's Series B to $85 million and will accelerate the company's expansion in the United States and other fast-growing, highly regulated markets. Article content Simetrik's no-code platform, powered by agentic AI, processes more than one billion records per day in 40+ countries, giving finance and operations teams a single source of truth for reconciliation data. By automating 100% of reconciliation workflows and delivering real-time alerts for exceptions, Simetrik helps their customers grow margins, manage rising transaction complexity, and stay audit-ready in an increasingly complex international payments environment. Article content 'Goldman Sachs's continued support validates the global demand for a purpose-built AI reconciliation platform,' said Alejandro Casas, co-founder and CEO of Simetrik. 'With this investment, we'll scale our U.S. presence and deliver even faster time-to-value, helping finance teams cut waste, act immediately on discrepancies, and turn reconciled data into a strategic advantage.' Article content Santiago Gómez, co-founder and COO, added, 'Fragmented systems, skyrocketing volumes, and shifting regulations are pushing traditional reconciliation to a breaking point. Simetrik lets teams automate controls end-to-end, shorten the monthly close by days, and export AI-ready data for forecasting, risk modeling, and product innovation, without writing a single line of code.' Article content Simetrik's customers include Stax Payments, Santander Group, Sephora, Possible Finance, Mercado Libre, Oxxo, Rappi, PayU, PagBank, Falabella, Itaú, and Nubank, among others, and strategic partners such as Deloitte. This trusted base has fueled the company's 100% year-over-year revenue growth and rapid international footprint. Article content 'Simetrik combines AI and no-code configurability to solve mission-critical reconciliation and compliance challenges,' said Hillel Moerman, a Partner at Growth Equity at Goldman Sachs Alternatives who has joined Simetrik's board. 'Since partnering last year, the team has consistently exceeded its plans. We're thrilled to deepen our investment and back their next phase of innovation and expansion into new markets like the U.S. while they continue to accelerate in high growth markets like Brazil.' Article content Other Series B participants include Cometa, FinTech Collective, Moore Capital Management, Monashees, and Upload Ventures. Article content About Simetrik Article content Simetrik is a B2B SaaS platform that empowers finance teams with AI-driven automation for reconciliation, compliance, and transactional control. Designed to handle the volume and complexity of modern financial ecosystems, Simetrik intelligently matches transactions from any source, standardizes data for AI and reporting, and enables continuous, real-time oversight. Operating in over 40 countries, Simetrik helps companies reduce risk, improve margins, and turn financial operations into a strategic advantage. Article content About Growth Equity at Goldman Sachs Alternatives Article content Goldman Sachs (NYSE: GS) is one of the leading investors in alternatives globally, with over $500 billion in assets and more than 30 years of experience. The business invests in the full spectrum of alternatives including private equity, growth equity, private credit, real estate, infrastructure, sustainability, and hedge funds. Clients access these solutions through direct strategies, customized partnerships, and open-architecture programs. Article content The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets. Article content The alternative investments platform is part of Goldman Sachs Asset Management, which delivers investment and advisory services across public and private markets for the world's leading institutions, financial advisors and individuals. Goldman Sachs has approximately $3.2 trillion in assets under supervision globally as of March 31, 2025. Since 2003, Growth Equity at Goldman Sachs Alternatives has invested over $13 billion in companies led by visionary founders and CEOs. The team focuses on investments in growth-stage and technology-driven companies spanning multiple industries, including enterprise technology, financial technology, consumer and healthcare. Article content Article content Article content Article content MEDIA CONTACTS Article content Article content FOR GS: Article content Article content Article content Article content
