Plinto, a FinTech company focused on bringing real-time finance to businesses, has closed a €2.9m pre-seed round backed by People Ventures and Emblem.
The two investors joined the round on the basis of a shared belief in where financial controlling is heading. Plinto argues that oversight of company finances is moving away from being the responsibility of a single dedicated team and towards a distributed model spanning the whole organisation, with agents coordinating the process.
The new capital will be put towards speeding up product development and entering new markets. Plinto said the investment is intended to help a wider range of companies tap into the potential of AI and transition towards finance that operates in real time.
People Ventures is an operationally focused early-stage fund headquartered in Copenhagen with a Nordic remit. It supports founders hands-on across areas including finance, sales and go-to-market strategy, and counts Pandektes, Hosted.ai and After Technologies among its portfolio companies.
Plinto was founded to address a problem in finance that the company says remained unresolved for decades because the available technology was not up to the task. Its platform now reviews thousands of transactions each day and takes action on them. The firm’s stated ambition is for finance to keep pace with the business itself, operating in real time.
People Ventures partner Magnus Stagsted said, “There were two reasons. The first was, of course, the team. Super experienced, and with a really unique sense of togetherness. On the market side, it was very much down to my own background.
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