Portfolio Welcome: SmartConcil
Excited to welcome Toronto-based SmartConcil into the RevUp portfolio!
SmartConcil is a SaaS platform that simplifies and automates the monthly process of financial reconciliation by transforming how financial data is gathered, standardized, prepared, and presented for analysis.
Reconciliation has always been a laborious and largely manual process. This problem has only increased as organizations expand the technologies they use to conduct business. The distribution and volume of reconciliation data is also exacerbated by the diversity of platforms used by the customers, partners and vendors of these organizations.
Before those responsible for reconciliation can evaluate data for accuracy, it must be aggregated, cleaned, classified, and standardized. Without an automated way to do this, the grind of manual work has become paralyizing for those on point to complete the task. With SmartConcil, finance teams can rapidly integrate data from disparate sources and identify mismatched information in real time, increasing the reliability of financial metrics and dramatically reducing the time and effort spent each month on these tasks.
SmartConcil eliminates the manual and repetitive reconciliation process, converting non-standard tasks into a standard flow; Collecting, categorizing, and matching information according to the business rules of each customer. SmartConcil integrates different connectors to collect information from many sources like Bank statements, Core systems, Accounting, and ERP systems, to name a few. The information collected can come in different formats (Xls, txt, CSV, pdf, etc.) but SmartConcil will read the data from the source without any changes, avoiding manipulation of the data and minimizing the time spent on this activity.
With SmartConcil, reconciliation can be done on a daily basis, avoiding the rush at the end of the month, and providing an easy way to find inconsistencies immediately.
We are inspired and excited by the progress this team is making, both by serving a diversity of customers in the financial services industry and through their expansion into other markets. Welcome Smart Concil to the RevUp portfolio!
More About RevUp Capital
RevUp Capital invests in B2B and B2C companies that are revenue-driven and ready to double down on growth. We deploy cash and capacity to help companies grow from $1-3M to $10-30M, quickly and efficiently, using a revenue-based model. Companies enter our portfolio with $500K-$3M in revenue, a strong growth rate, and a team that’s ready to scale. Our typical investment range is $300K-$500K.
We invest into a company's market-facing activity using a cash and capacity model. We pair our cash investment with dedicated support from the RevUp Growth Platform: a powerful resource to build a data-driven growth engine, delivered by people who get the work done. Rather than take equity, companies return investment through a small percentage of revenue over time. More at www.revupfund.com