Amalia.io continues to grow. On February 19, the startup announced a four million euro fundraiser from UK-based investment fund InReach Venture backed by several business angels, as well as id4 Ventures and Super Capital CV. The company provides SaaS software to merchants to enable them to evaluate their variable compensation on a daily basis, avoiding payroll or accounting errors.
In this way, finance teams can “better test amounts and reserves for future business results,” the startup boasts in a press release. “Today, Amalia.io allows you to model all possible plans, taking into account their specificity and complexity, and accurately communicate them to sales teams so that they can track their commissions as they progress,” says co-founder Maxim Granzhan. and CEO of Amalia.
Target over 500 million euros of certified commissions
Amalia.io explains that it wants to continue its development in Northern Europe and the UK; hire “about ten new talent in the short term and about twenty by the end of 2023” in everything from marketing to sales, including technology or product service; further improve sales figures and achieve the goal of “more than 500 million euros in certified commissions by the end of 2023”. “Amalia will allow companies to align their compensation structures and incentivize their teams to reach their full potential,” said Amanda Jones Floyd, an investor in InReach Ventures, justifying the startup’s funding.
The Lille-Paris-based startup, which is celebrating its third anniversary this year, has around 30 clients including Swile, Rakuten, Mirakl, Qonto, OpenClassrooms, iBanFirst, TheFork, Getronics, Sud Ouest and Yousign. Amalia.io has already certified several hundred million euros in commissions on its platform.
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