Selections #25 – Silverfin, Soldo, SpotDraft, SteelEye

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Silverfin – The cloud platform accountants need for success today and tomorrow

Belgium-based, 2013 founded, $2.0m raised, 101-250 employees, working with Deloitte, Grant Thornton, PKF

Where’s the good stuff?

They’ve landed 650+ customers in eight countries, who’ve collectively used Silverfin for over 147,000 accounting files. They won the 2019 Software Innovation award at Accounting Excellence 2019 and the Deloitte’s Fast 50 award for FinTech in 2018.

What do they do?

Silverfin’s cloud platform enhances accountants’ abilities through speedy collaboration, automated compliance reporting, and real-time data management. Silverfin’s enhancing of accounting is further pushed by the software’s key feature of creating a connection across all your financial and bookkeeping, giving their clients full sight of the firm.

Silverfin’s platform proudly showcases 3 different features. First is Fullsight, which gives customers a complete view of all their financial data at all times. Pushing in next is Insight, which alerts accountants with tantalising analysis and actionable accounting insights. Finally, Hindsight, which brings in standardising tools and enables the automation of compliance capabilities.

Soldo – Smarter business spending starts here

UK-based, 2015 founded, $83.2m raised, 101-250 employees, working with Endemol Shine Group, Secret Escapes, Toyota

Where’s the good stuff?

Closed their $61m Series B round in 2019, co-led by Battery and Dawn Capital with previous backers Accel and Connect Ventures joining in. Their success is highlighted by their 60,000+ clients and four offices around the world. 

What do they do?

Soldo streamlines the corporate business expense cycle by providing their enterprise clients with prepaid credit cards for their employees. In essence, Soldo creates a multi-user expense account where team leaders can easily manage and delegate exactly how much each person is able to expense.

What makes Soldo more than just a prepaid credit card is how they bring together the data that comes from each expense account. They use the data to provide a real-time budget sheet with an up-to-date view of spending, and the ability to generate live reports of employee expenses that can be quickly uploaded into any accounting software, eliminating time-consuming manual data entry.

SpotDraft – Artificial Intelligence for your legal paperwork

India-based, 2017 founded, $2.1m raised, 25-50 employees, working with Goibibo, NDTV, Wipro

Where’s the good stuff?

They raised $1.5m in Seed funding from 021 Capital in February of last year. Although based in India, SpotDraft is a globally-minded company with 65% of their clients located outside of the country. Additionally, they were the first Indian company to finish among the top 3 at TechInAsia 2018

What do they do?

Through SpotDraft’s easy-to-use and intuitive AI-powered platform, enterprises are able create, manage and analyse their contracts – all from one intuitive, award winning, AI-driven platform.. The backbone of SpotDraft lies within their use of AI: when a user has finished with a contract, they can upload it to the platform and receive sub-clause review that checks if it’s compliant, further checking for organisation-specific rules that the AI learns to adapt to. 

The relative ease that SpotDraft gives their clients is evidenced by the 6,000,000+ contracts that have been processed by the platform in the short time they have been around.

SteelEye – Surveillance. Simplified

UK-based, 2017 founded, $20.0m raised, 11-50 employees, working with CIAM, Hywin Wealth, Tavira Security

Where’s the good stuff?

They closed a $10.0m Series A round during February of this year, with Eight Road Ventures as lead and supported by Illuminate Financial. They recently won the Best Solutions for Records Retention award at the RegTech Insight Awards 2020 but also secured the top spot as the Best Regulatory Reporting Solution at the HFM European Services Awards 2020

What do they do?

SteelEye provides compliance technology, data and analytics services, assistance with transaction reporting, record keeping, along with execution and data insights. To put it simply, their software securely unifies data and communication information to give their clients analytics and insights that ensure compliance.

SteelEye’s ‘Surveillance’ feature allow their clients to remain regulatory compliant through their class agnostic surveillance platform for trade and order supervision. This feature monitors customer data in real-time, identifying and stopping risks before they can happen. Another interesting feature of SteelEye allows its clients to not only remain MiFID II compliant but, overlays trade order that is sent to governing bodies with external market data for benchmarking in order to create better execution strategies.

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