News – Emerging and Growth Companies Practice
17 January 2016
Cresco assisted Cashforce, a Belgian fintech start-up, in the preparation, structuring and closing of its EUR 1 million Series A round, led by Volta Ventures.
Cashforce has developed cloud software, helping companies and their financial professionals to save time and money by optimizing their cash flow forecasting processes. The platform enables financing professionals to do easy and accurate cash forecasting.
Cashforce will use the proceeds of the Series A round for product development and to accelerate its commercial roll-out in Europe.
Founder and CEO Nicolas Christiaen comments: “The Cresco team has acted as trusted advisor through our Series A capital raising round within a challenging process timeline. Through their expertise with start-ups, pragmatism when dealing with a series of complexities, as well as dedication and their continuous availability, Cresco helped us closing this round in a timely manner, while maintaining a high level of quality.”
The Series A round is led by Volta Ventures, a Benelux venture capital fund for early-stage internet and software companies, with an additional investment by Pamica, the investment company of Michel Akkermans, former chairman and CEO of the fintech company Clear2Pay. Both investors have been appointed to the board o directors.
David Dessers, Olivier Van Raemdonck and Pauline Devos constituted the deal team for this transaction.