Hyphenate, formerly known as Maximor, raised $45 million in a Series A round led by Nexus Venture Partners with participation from B Capital. The company's total funding now reaches $54 million. Its platform uses AI agents for work in the finance office, such as cash reconciliation, invoicing, subledgers and month-end close. The company reports 86-fold revenue growth.

What it means: Accounting and finance are among the areas where AI agents are finding quick use, because many tasks are repetitive, rely on structured data and follow clear rules. Reconciling bank movements with the ledger or matching payments to invoices takes many hours every month at every business today. The large revenue growth Hyphenate reports shows finance chiefs are willing to try such tools, though a figure that high usually starts from a small base. The key question remains control: who signs off the entries an agent makes, how they are documented for the auditor and how mistakes are corrected. In Greece the topic matters especially because of myDATA and mandatory e-invoicing, which make transaction data more structured and therefore better suited to automation. For accounting firms and finance departments at Greek companies, the trend means much of the reconciliation and closing work could be automated in the coming years. The accountant's value shifts towards review, interpretation and advice, and it is worth preparing now with clean data and clear processes.

Read the original on Hyphenate

Related service: myDATA integrations

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