Source: Business Insider
Summary
A fintech startup, founded by accountants from Flexport, Miro, Hopin, and Thrive Global, has raised funding to automate the process of preparing financial statements. The company aims to simplify the difficulties of financial reporting. According to the founders, their platform uses machine learning to automate tasks such as data entry and reconciliation.
Our Reading
The launch follows a familiar script.
A new startup promises to “automate” financial statement prep, because apparently, that’s not what Excel and QuickBooks have been doing for decades. The founders, former accountants themselves, claim their platform uses “machine learning” to make financial reporting easier. Because, you know, AI is the answer to every problem. The real question is, what took them so long to reinvent the wheel?
Author: Evan Null
