DataRails Leaders (PR Pic from webdsite)
DataRails is an Israeli fintech startup which offers a financial solution designed for SMEs. The company states that this solution turns manual monthly and quarterly reporting processes into automated ones. DataRails just raised another $25 million, doubling the company’s valuation, and bringing its Series A raise to a total of $43.5 million after the company brought in $18.5 million in April.
SMEs are small and mid-sized businesses. Fintech is anything new having to do with using technology to improve the transfers of money, or payments. This includes just about everything like every time a person pays for something on line. DataRails, however, deals with financial filing, making it easier for smaller firms to handle all of that headache inducing paperwork digitally.
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Founded in 2015 by CEO Didi Gurfinkel and CPO Eyal Cohen, DataRails says that the company is on a mission to revolutionize the way finance professionals use analytics. Their leadership team boasts many years of experience in the corporate world and is with the challenges that financial professionals face. As a result, DataRails boasts that its financial analytics platform was created with finance professionals in mind. The company also says that there is a data-driven trend that’s transforming the industry.
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“Over the past year we were in a position to help many SMEs navigate the turbulent waters of financial reporting and show our value to our customers and investors, even as a pandemic and the resulting economic instability presented significant obstacles,” said Didi Gurfinkel, Co-Founder & CEO at DataRails. “Our existing investors recognized the immense potential that DataRails has to offer, and this additional funding is a vote of confidence that will help to expand the reach of our FP&A solution throughout North America and the UK, as well bring in new recruits across to manage the rising demand.”
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Oren Zeev, founding partner at Zeev Ventures, said, “Businesses are constantly about to start, in the midst of, or have just finished a round of financial reporting—it’s a never-ending cycle. But with DataRails, FP&A can be simple, streamlined, and effective, and that’s a vision we’ll back again and again.”
