Cresco advised Elephant on leading Tekst’s €11.5 million Series A

Cresco is pleased to have acted as Belgian counsel to US venture capital firm Elephant on its lead investment in the €11.5 million Series A round of Tekst, a Ghent-based AI startup automating enterprise back-office workflows. Existing investor Entourage, the fund of Showpad co-founder Pieterjan Bouten, also joined the round.

Founded in 2022 by Wouter Janssen and Tiebe Parmentier, Tekst combines process intelligence with agentic AI to automate the back-office workflows that quietly run modern enterprises — quote-to-cash, procure-to-pay, claims handling and order management — for customers including Daikin Europe, Colruyt Group, Securex and Becton Dickinson. The new capital will fund product development, US expansion and the doubling of Tekst’s team by year-end.

The Cresco deal team consisted of David Dessers, Olivier Van Raemdonck and Rutger Duden.

Special thanks to Michael S. Hacker and Chris E. Sundquist (Gunderson Dettmer) and to Pat Cammarata and Matt Tanenblatt (Elephant) for the excellent collaboration across jurisdictions.

Read more in De Tijd.

For any questions on venture capital transactions, please contact David Dessers or Olivier Van Raemdonck.