Simetrik raises $55 million in Series B round, led by Goldman Sachs Asset Management to drive global expansion and advance financial automation technology

New York, NY – February 2024. Simetrik, a COMETA III B2B SaaS, secured USD 55M in a Series B led by Goldman Sachs. Existing investors, including COMETA, who led the Seed round, and FinTech Collective, who led the Series A, along with Falabella Ventures, Endeavor Catalyst, Actyus, Moore Capital Management, Mercado Libre Fund, and the co-founders of Vtex, also participated in this round.

This funding round marks a significant milestone for Simetrik as it reinforces its position in the rapidly evolving financial sector and paves the way for its global expansion efforts. Alejandro Casas, Co-Founder and CEO, emphasized the crucial role this investment will play in advancing the company’s financial automation technology and enhancing its global reach.

Founded by Alejandro Casas and Santiago Gomez, Simetrik has developed solutions to simplify and automate financial tasks such as record centralization, reconciliations, controls, reporting, and accounting. Based on Simetrik Building Blocks (SBBs), these solutions leverage cutting-edge technologies including no-code development and generative AI. With the Series B funding, Simetrik plans to enhance the capabilities of its SBBs further, integrating more advanced and secure AI to deliver unparalleled financial automation solutions.

The company boasts a prestigious client base including corporations such as PayU, Mercado Libre, Rappi, PagSeguro, Falabella, Oxxo, Itaú, and Nubank. Additionally, Simetrik has established partnerships with leading professional services firms like Deloitte. With a global footprint spanning over 35 countries and monitoring over 200 million records daily, Simetrik intends to utilize the funds from this Series B round to expand its international reach, targeting major payment companies and consumer marketplaces worldwide.

COMETA III first invested in Simetrik in April 2021, marking the fund’s debut investment; the Series B terms represent a valuation increase of over 10x on the fund’s first deployment.

“Simetrik, with its stellar team, is leading a remarkable shift in Latin American technology. They are developing world-class software solutions that optimize the operations of enterprises on a global scale. The recent backing of Goldman Sachs validates the company’s potential and significantly boosts its prospects for growth and success. This partnership underscores the increasing recognition of Latin America as a hub for innovative tech solutions with the potential to impact businesses worldwide.” the COMETA team stated.

About Simetrik:

Simetrik is transforming how businesses approach financial operations with its groundbreaking B2B SaaS No Code and Generative Al solutions, streamlining complex financial tasks. The solution accelerates financial processes, streamlines complex operations, and enhances data-driven decision-making, all while ensuring regulatory compliance. Leveraging no-code and Al technology, Simetrik combines cost-effective, robust financial control with the agility and flexibility to adapt to dynamic market needs. The platform’s user-friendly design is underpinned by a commitment to auditable processes and industry expertise, ensuring not just efficiency but also reliability and strategic insights for our clients.

About Cometa

COMETA is a venture capital firm that invests in early-stage technology companies serving Spanish-speaking markets. COMETA’s portfolio of companies includes Bitso, Cabify, Gaia, Kueski, Simetrik, Prometeo and Territorium, among others. Learn more at: https://cometa.vc. Contact: info@cometa.vc.