Moss, a Berlin-based company, has successfully raised €30 million (equivalent to £25 million) in a Series C round. This funding allowed the company to achieve unicorn status with a valuation exceeding one billion. The funds will be used to significantly accelerate the development of its Finance AI platform for European corporate clients.
Furthermore, Moss plans to expand its digital expense management services for small and medium-sized enterprises across Europe. Portage led the Series C round, and previous investor Cherry Ventures also participated. Moss's total funding since its founding in 2019 now exceeds €160 million.
This move comes amid the growing adoption of artificial intelligence by companies to simplify financial tasks and improve decision-making processes. It is believed that further growth will be seen in solutions that combine automation and human involvement to enhance financial efficiency without compromising accuracy or compliance.
Moss intends to use the new capital to go beyond traditional expense management by creating a broader suite of AI-powered tools for finance teams. The company is developing customizable AI agents capable of assisting financial professionals with routine operational tasks while ensuring that final business decisions remain under human control.
Rather than allowing AI to make autonomous financial decisions, the Moss platform is designed to prepare the work, explain every recommendation, and require user approval before executing critical actions.
Ante Spitzler, CEO and co-founder, stated that the next phase of the company's work will focus on providing AI that boosts productivity while maintaining transparency and accountability across all financial workflows.
Moss was founded in 2019 by Ante Spitzler, Anton Rummel, Ferdinand Maier, and Stefan Haselbacher. The company provides businesses with a comprehensive expense management solution that simplifies core departmental financial tasks.
The platform's software integrates corporate payment cards, invoice processing, employee expenses, and accounting, allowing users to manage the latter in real-time and budget in one place.
Moss relies on intelligent AI agents that automatically classify and reconcile transactions, thereby reducing tedious manual reconciliation at the end of the reporting period. The company reports processing over two million transactions monthly.
More than 5,000 companies in the UK, Netherlands, Germany, and Austria use Moss software, which has achieved an annual recurring revenue of over €70 million while maintaining a growth rate of approximately 65%.
Artificial intelligence is becoming a central element of Moss's long-term product strategy. The company believes that this human-in-the-loop approach will increase trust while allowing organizations to benefit from faster financial operations.
Unlike some competing financial software providers, Moss believes that finance teams must retain full control over important decisions. Its AI is designed to assist, not replace, financial professionals.
Company research confirms this approach. In a survey conducted by Moss among 471 finance executives, nearly half of respondents cited control as the most important factor when implementing AI-based financial tools, while only a small minority preferred fully autonomous systems.
The latest funding allows Moss to strengthen its presence in the growing European fintech market. The company currently operates from Berlin, with additional offices in Tallinn and Amsterdam, and employs about 339 people.
Moss competes with several global expense management platforms but believes that its focus on explainable AI and human oversight gives it a significant competitive advantage as finance departments increasingly adopt automation.
Convex has raised $57 million in a Series B funding round. These funds are planned to be used to scale the development of its backend platform, which is specifically designed for artificial intelligence. The financing was led by Insight Partners, with participation from Etna Labs and all previous investors, including a16z and Spark Capital.
Thanks to this Series B round, Convex's total raised capital has reached $110.5 million. The company stated that it intends to use this money to improve its core platform, enhance tools for agentic development, and increase its staff in its San Francisco office.
Founded in 2021 by former Dropbox infrastructure engineers, Convex offers developers a fully integrated backend platform. This platform combines databases, functions, workflows, search, synchronization, authentication, and file storage into a single solution built for software development.
The fundraising comes amid the trend towards AI-powered coding and autonomous development tools. Convex believes that developers need infrastructure capable of handling the increasing complexity of applications while maintaining a high level of reliability.
The company posits that traditional backend infrastructure struggles to support the growing use of AI coding agents. According to the company, AI-generated applications based on standard databases can subtly introduce data errors that only manifest after deployment.
Internal testing revealed that 90% of AI-built applications running on traditional databases encountered data corruption in real-world operating conditions. In comparison, applications developed on the Convex platform passed the same tests without any failures.
Convex's backend includes built-in ACID transactions, end-to-end type checking, real-time subscriptions, and TypeScript support. These features reduce the need for manual integration of multiple services for developers and increase application reliability. Furthermore, Convex packages search capabilities, workflow automation, authentication, file storage, and retrieval-augmented generation functions, allowing AI applications to be enriched with organization-specific knowledge.
The platform has gained significant traction among developers building AI-based software. Convex currently supports nearly two million applications created by about 500,000 developers worldwide. The company also reported over 1.2 million weekly downloads from npm.
Convex's clients include OpenAI, Tripadvisor, Solana, Zapier, and Reducto. These organizations use Convex to simplify backend development while ensuring scalable, reliable performance for their applications.
Insight Partners noted that the growing adoption of AI coding assistants has exposed weaknesses in traditional software infrastructure. The investment firm believes that Convex provides developers with a more robust foundation where backend components function cohesively without the need for complex configuration.
Convex plans to use the new funding to accelerate product innovations amidst the transformation of software engineering influenced by AI. The company will direct funds toward creating new tools that simplify application development for both developers and AI agents that build software.
The company will continue to provide highly reliable backend products supporting increasingly complex AI-based applications globally. Convex is convinced that stable backend infrastructure is becoming critically important as artificial intelligence generates large volumes of application code.
Instead of combining disparate components, Convex offers a single unified platform, which effectively reduces complexity and prevents software bugs. The raised funds will strengthen Convex's engineering team and significantly expand its global developer ecosystem and platform capabilities. With fresh capital and a growing customer base, Convex aims to solidify its position in the evolving AI development infrastructure market, making the creation of reliable software faster and easier for both human developers and AI agents.
Enigma has successfully raised $71 million in a seed funding round, with the funds intended to accelerate the creation of foundational models designed for robotics.
Josh Matter, CEO of Enigma, noted that this investment is a strong confirmation of confidence in the company's mission—bridging the gap between the complex physical world and the increasingly digital reality. The round was co-led by Index Ventures and Ribbit Capital, and supported by Conviction Partners and several prominent figures from companies such as OpenAI, Anthropic, DeepMind, xAI, Cognition, and Wiz.
This round concludes just 11 months after the company's founding and marks one of the largest seed rounds for a company operating in the field of physical AI. The secured funds will be used to significantly expand the team of researchers and engineers, increase computational power, and implement AI-based technologies across more operational environments.
The new funding will allow Enigma to strengthen its AI research and expand the infrastructure necessary for training increasingly sophisticated robotics models. The company also plans to conduct larger-scale real-world deployments to gather valuable interaction data, which will help improve future versions of its technologies.
Enigma believes that one of the main challenges in the industry lies in the methods of human-machine interaction. The company asserts that robots become significantly more useful when people can instruct them naturally, without the need for complex programming or lengthy demonstrations.
To realize this vision, Enigma has developed over 100 patented robotic systems operating at facilities in California and Israel. These systems perform various demonstration tasks, including painting, fencing exercises, and simple laboratory experiments. The company has provided access to many of these robots to online users, allowing people worldwide to interact with them remotely. According to Enigma, such interactions generate valuable training data that contributes to improving both user interfaces and core AI models.
Enigma's approach focuses on understanding how ordinary users attempt to control robots naturally. Instead of relying solely on expert demonstrations, the company studies various communication methods. According to the company's calculations, if robot training is too burdensome, consumers will prefer to perform tasks themselves rather than use automation. This research is intended to overcome one of the biggest hurdles to the adoption of robots in the market.
One advantage of the company's platform is that its systems are capable of working with various types of robotics, rather than being tied to a single manufacturer. This strategy, independent of specific hardware, may allow businesses to integrate intelligent automation without replacing their existing robotic fleet.
Investors view Enigma's research-oriented strategy as a major opportunity in the rapidly evolving physical artificial intelligence market. Rather than rushing commercial products, the company is building its own datasets on human-robot interaction for future technological development. It is forming datasets that enable more natural interaction between humans and robots through artificial intelligence. The company is confident that this knowledge will become its competitive advantage as robotics adoption accelerates across various industries globally.
Ominimo has successfully completed its Series B funding round, raising $22.5 million. This round allowed the company to reach a valuation of $1.6 billion just two years after launch, making it one of the fastest-growing unicorns in the European insurtech sector.
Unlike several other fast-funded tech startups in Europe that focus on market size at the expense of profit margins, Ominimo has managed to achieve profitability while continuing to grow its customer base and expand across Europe.
Ominimo is based in Budapest and was founded in 2024 by Dusan Komar, Dennis Weinberger, Laslo Horvat, and Kristina Kozina. The company's main focus is modernizing vehicle insurance through the use of advanced data, process automation, and artificial intelligence technologies.
Ominimo is preparing to enter the US market while accelerating long-term international growth and regulatory compliance initiatives. Currently, the company provides insurance services in Hungary, Poland, the Netherlands, and Sweden, and plans further expansion. Operations will soon begin in Belgium and Romania, followed by plans to enter the Spanish, Italian, and French markets. Management aims for a successful launch of Ominimo's insurance services in the US market by 2027.
Obtaining its own insurance license is a key strategic goal. Currently, Ominimo operates as an managing general agent, handling pricing, customer acquisition, and claims management, while underwriting risk is borne by partner insurers. Transitioning to a licensed model will allow the company to retain a larger share of underwriting profit and gain greater control over product development, although this will also require significantly more regulatory capital.
Ominimo has distinguished itself by using hundreds of data points to assess insurance risk instead of relying on the limited variables traditionally used by insurance companies. This allows the company to price policies more accurately and increase operational efficiency. Its proprietary technology automates a significant part of the insurance process, including pricing and underwriting support, customer service, and claims management. The platform continuously learns from customer data, helping to improve pricing accuracy and reduce operating costs over time.
The company's financial results reflect this approach: Ominimo's annual gross premium revenue growth rate increased from 26.3 million euros in 2024 to approximately 307 million euros to date. The company serves nearly a million customers across various European markets while remaining profitable. Staff numbers have also grown rapidly: from about 40 people in the early stages to approximately 130 today, with plans to reach 150 employees by the end of the year.
Unlike many insurtech companies, Ominimo prioritized sustainable growth over aggressive expansion and weak financial operations. Its strategy involved partnering with existing insurers while simultaneously improving technology and operational capabilities for long-term success. This approach ensured steady growth, fostering strong partnerships with insurers such as Signal Iduna and DA Direkt. These partnerships have enhanced the customer experience, pricing models, and operational performance of the company across numerous global insurance markets. Investors remained confident as Ominimo consistently demonstrated strong business execution throughout its growth and expansion history. After being valued at $200 million during its Series A round in 2025, Ominimo successfully achieved unicorn status.
