Accounting, made simple! Simple.AI is a Singapore-founded startup that’s developing AI agents for accounting and finance teams. 

• They recently raised a $5M seed round and secured a $10M debt facility. 

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Investor check. The company did not disclose the names of their investors, but SimpleAI says it will continue to bring in strategic investors.

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#️⃣ Simple works

Founded in 2023, SimpleAI helps accounting and finance teams automate their workflows, cutting down hours of manual work and repetitive tasks.

• Their agents can read financial documents and integrate with existing accounting platforms. 

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💡 Acquisitions, here they come

They’ll use the capital to acquire accounting firms and fund administrators, where they’ll deploy their agents into their workflows. 

• They’ll focus on acquiring businesses with an annual revenue between $500K and $5M. They’re also open to transactions involving firms earning more than $20M a year. 
• They’ll initially focus on Singapore and Australia, and explore Hong Kong and Mauritius. 

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Very big goals ahead. They’re targeting a public-market exit, including a potential IPO, within the next 24 months.