FinTech startup Tesorio has reached “an exciting milestone” by raising a $10m Series A funding round.
The round was led by Madrona Venture Group, the venture capital firm that recently took part in robotic process automation software business UiPath’s massive $568m Series D round.
Looking at the Tesorio round, existing investors First Round Capital, Floodgate, Fathom Capital, and Fuel Capital also participated. So did Y Combinator, the startup incubator that unveiled its latest batch of startups the other week, including several FinTech startups worth keeping an eye on.
Carlos Vega, co-founder and CEO of Tesorio, said, “The announcement of our Series A is an exciting milestone that enables our own long-term thinking, helping us to continue prioritizing our mission to democratize access to financial best practices and to expand how we serve our customers.”
Tesorio is the company behind a cash flow performance platform that uses machine learning to key financial data to help customers. “Access to capital and strong free cash flow generation are among the biggest determinants of a company’s ability to grow. It also affords management the freedom to optimize for long-term growth and innovation,” said Vega. “Research backs this up, showing that companies that optimize the performance of their cash flow grow faster driving up stock prices and company valuations. With insights from our customers, we’ve built a platform that finance teams use daily as the main tool to do their work.”
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