Simetrik

Worldwide, the financial data management systems used by large enterprises are proving to be rigid and outdated. Traditional ERP systems are struggling to keep pace with modern complexities, particularly given the boost in transactionality stemming from the proliferation of alternative payment methods. Internal development efforts within these corporations often encounter substantial challenges in maintenance, scalability, and adaptability. As a result, finance teams frequently resort to manual processes, heavily depending on spreadsheets to fulfill their operational requirements.

Simetrik’s product empowers financial operations teams with cutting edge technology for financial control automation. The company has developed an intuitive solution to simplify and automate key financial tasks like record centralization, reconciliation, controls, reporting, and accounting. As transaction levels surge and clients introduce more business lines, Simetrik creates a significant data moat to further advance its product capabilities towards the FP&A space, becoming more disruptive to the traditional CFO stack. This is fundamentally achieved by leveraging its core no-code platform and inhouse generative AI capabilities.

Over the past two years, Simetrik has demonstrated remarkable growth and performance. The company has expanded its global presence, now serving clients operating in over 40 countries on aggregate —a significant increase from the 10 countries at the time of our initial investment. Furthermore, Simetrik has begun signing net new customers in key Asian markets like India and Singapore, rather than just covering the operations of Latin American customers outside of the region. Daily transactions processed have surged from 70m to over 200m. Since the Series A funding, Simetrik's revenue has quadrupled. The company's client base and use cases have also evolved during this period, now including major corporations such as PayU, Mercado Libre, Rappi, PagSeguro, Falabella, Oxxo, Itaú, and Nubank. Furthermore, Simetrik has established strategic partnerships with leading firms, including Deloitte, strengthening its go to market efficiency via recognized channel partners.

Carlos Alonso Torras, Partner at FinTech Collective, said: “Over the last two years, Simetrik has undergone a remarkable transformation, substantially growing its product offer, sales efficiency, geographic coverage, and strategic sophistication. Armed with a loyal and highly motivated team, it is uniquely positioned to revolutionize enterprise financial operations, arguably at a global level. The plan is both ambitious and complex, but we believe in the company’s ability to continue redefining expectations”.

Media Highlights

TechCrunch - Goldman Sachs bets on Simetrik’s automation tech for CFOs

Reuters - LatAm's Simetrik raises $55 million in Goldman Sachs-led funding round

Fintech Features - Colombia’s Simetrik secures $55m Series B round led by Goldman Sachs

FinTech Collective leads Simetrik’s $24m Series A