Abacum, a US-based business planning platform, has secured $60 million in Series B funding led by Scale Venture Partners.
The investment round attracted further participation from Cathay Innovation, alongside existing investors Atomico, Creandum, Kfund, and Y Combinator.
Founded in 2020 by CEO Julio Martínez and COO Jorge Lluch, Abacum offers a range of financial planning solutions, including budgeting, forecasting, revenue and headcount planning, and investor reporting. The company serves notable clients such as Banking Circle, Lendable, and Mangopay.
The fresh capital has been earmarked to drive Abacum’s expansion throughout the US, a market which currently accounts for 50% of the company’s revenue.
Additionally, Abacum says it has allocated funds for product development, focusing on multi-agentic AI technology, enhancing its modelling engine, and developing a “robust data layer that becomes a single source of truth”.
This Series B round builds upon Abacum’s previous funding achievements, including a $25 million Series A in December 2021 and a $7 million seed round secured earlier that year.
Source: https://www.fintechfutures.com/
