Tallinn-based Reiterate aims to automate cost and revenue intelligence for transactional businesses.
The startup offers a reconciliation tool for finance, payments, and business intelligence teams to provide a no-code environment for generating automated custom pricing calculations.
Founded by the engineering-sales duo that previously built top-selling products at Veriff, the tool visualises complex pricing models and tracks performance to automatically detect charging errors.
The company has now raised €1.25 million.
The investment round was led by Hummingbird Ventures and included a number of notable private investors, such as the co-founders of Showpad, and former Skype, Pipedrive, Stack Overflow, and Veriff executives.
The new investment will be used to grow its global engineering and product team to further develop the calculation editor, improve client onboarding, and grow traction in the U.K. and across Europe.
Going forward, the company’s long-term product vision includes the use of neural networks to analyze agreements, followed by automated analytics to detect payment errors.
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