finway Leadership team

finway raises $10 Million Series A Funding Round led by Capital 49

Finway Co-CEO Jennifer Dussileck
  • Jennifer Dussileck
  • 23.02.23
  • 4 min read

Investment will enable finway to accelerate growth and product development to empower European SMBs to control their costs with advanced spend management and budgeting software


finway, the German finance operating system for SMBs, has raised € 9.2 million ($10 million) in a Series A round from Capital 49, an early stage venture fund led by founders of global fintech unicorn Airwallex. Other new investors include Force Over Mass, a fintech specialized fund from the UK and renowned founders such as the family office of Paul Forster, the co-founder of Indeed. Existing investors btov Partners and 10x group also participated in the new investment round.

There are more than 23 million SMBs in the European Union. The vast majority of them, nearly 80%, have not yet fully digitized their financial processes. Spending and cost control have become central factors in every finance department. The demand for automated solutions that rationalize outdated accounting practices and provide insight into real time financial data has never been more prevalent.

finway replaces the inefficient, fragmented SMB finance tool market with one centralized platform covering invoicing and accounting workflows, spend and travel expense management. It helps SMBs to eliminate a variety of time-intensive, error-prone manual tasks. By enabling intelligent and digital workflows, finway streamlines the entire accounts payable function. With this ambitious approach, finway has its finger on the pulse and is in the right place at the right time.

In just two years, finway has acquired more than 400 customers across the DACH region, including MILES Mobility, Alasco and Recup ​and has silently emerged into one of Germany’s fastest growing B2B fintech platforms.

In order to better serve its rapidly growing customer base and to help finance departments overcome their most pressing challenges, the need for better cost control, the finway team will use the investment primarily to advance the development of its innovative software solution.

“It’s no secret that technology is reshaping the future of money and banking, and finway is rising to the challenge by building a solution that automates financial processes and increases efficiency for SMBs,” said Jack Zhang, co-founder of Airwallex and Capital 49. “We are so excited to be leading the investment round, and strengthen the ecosystem that is aligned with our vision to reshape the future of financial services for modern businesses.”

Jennifer Dussileck, Co-Founder of finway


“We are thrilled by the support of ambitious, successful investors who see the potential of fintech in B2B. The need for efficient and automated spend management has never been greater, as cost control becomes more of a priority due to ongoing economic challenges. This is the time for finway to continue growing and proceed with our vision of productive, smooth, and hassle-free finance processes in every SMB.”

Jennifer Dussileck, Co-Founder & Co-CEO of finway


About finway:

finway was founded in 2020 by Csaba Krümmer, Jennifer Dussileck and Philipp Rieger and was backed up by well-known investors around Felix Haas, Andrej Henkler, and the 10x group right from the start. finways ambitious mission is to revolutionize the status quo of financial processes in SMBs all across Europe, enabling finance teams to reclaim their role as the backbone of their businesses and to realign their focus on strategic growth. finway is based in Munich and has 60 employees working onsite and remotely from all around Germany and the world.

About Capital 49:

Capital 49 is an early stage venture fund led by founders of global fintech Airwallex to support vision-driven founders in the global SaaS and fintech space. It seeks out entrepreneurs who are inspired by the future of financial services, and who can benefit from its combined experience and expertise to shorten their learning curve and help them innovate, operate and scale their business.

About Force Over Mass:

Force Over Mass Capital is an FCA regulated venture capital firm focused on early stage technology investments across the UK and Europe. It invests in B2B innovation across four verticals: Fintech, Artificial Intelligence, SaaS and Industry 4.0. Force Over Mass operates both seed and scale-up funds to support early stage businesses through their growth journey.

finway team 2023