A London-based fintech and Software-as-a-Service (SaaS) firm ARKK has secured funding of £7 million from its existing investors. ARKK helps in the automation of the finance function of an organization by replacing traditional and outdated tools with improved smart technology.
The freshly secured funds will be used by the firm to accelerate its growth as well as to enhance its platform ‘for:sight’ and modules to meet the increasing demand from clients. As a part of this funding, Graham Ridgeway from Mobeus will be joining the Board of ARKK as a Non-Executive Director, who has B2B software experience.
More on ARKK securing £7 million
ARKK CEO, Richard Metcalfe commented that the successful application of for:sight to Making Tax Digital has driven growth till now. A strong demand for more functionalities from ARKK’s client base is emerging which has led to innovation and this funding as well as support from Moeus, Metcalf adds. The funding will allow the SaaS firm in unlocking growth at a faster pace while overcoming the challenges faced by leaders in finance, he further adds.
The team from Mobeus that supported this deal includes Amaad Mahmood and Matt Mead. Amaad said that Mobeus is extremely excited to continue backing the high-quality team of ARKK. The company has shown incredible resilience throughout the pandemic and grown the business even further in all segments, which include a significant increase in revenue, he adds.
About ARKK: A UK-based fintech
ARKK was established in the United Kingdom mid-2008 when 2 IT architects from the corporate world got a brilliant idea of how they can use technology and automation to enhance the finance function. The London-based fintech helps organizations unify, gain and analyze insights from data more efficiently and accurately than ever before.
The team of 80 talented individuals help companies gain financial confidence in a data-driven world. The company aims at changing the face of financial reporting. Keeping the same in mind, ARKK has created for:sight. The for:sight platform by ARKK enables organizations to move away from error-prone manual methods of data entry and shift towards automating the entire process, from data cleansing, data verification to submission.
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