Numarics attracts UBS as investor and partner

Numarics was founded in 2020 by Dominique Rey, a senior expert in financial and regulatory audits with years of experience at PwC and Grant Thornton, and Kristian Kabashi, a business transformation and digital innovation expert. Numarics was developed by experts in finance, auditing, AI and automation with a vision to seamlessly integrate business administration into the lifestyle of today's entrepreneurs through a mobile-first approach. 

Numarics eliminates the need to use different software for accounting, invoicing, document management and liquidity planning and can save SMEs money by avoiding having to hire consultants.  It offers a digital CFO solution that businesses can count on, and its combination of AI and human expertise enables a unique user experience that is fast, intelligent and secure. It automates many aspects of the back office, benefitting users and experts by removing tedious administrative tasks and providing insights from across the business. 

The seed investment will support Numarics growth through acquisitions, further expansion in Switzerland and further product development to offer a broader range of services. The investment was co-led by UBS through UBS Next, the firm’s venture and innovation unit, together with FiveT Fintech (formerly Avaloq Ventures) alongside previous investors Wingman Ventures and Seed X.

In addition Numarics and UBS plan to form a strategic partnership. The partners aim to create solutions that will seamlessly combine and simplify accounting, time consuming administrative tasks and banking services for SMEs. ”The planned strategic partnership with Numarics is another important milestone in the development of new and integrated offerings and the expansion of the UBS ecosystem for SMEs. The offerings aim to go beyond traditional banking and help SMEs manage their day-to-day business efficiently,” says Alain Conte, Head Corporate & Institutional Clients Switzerland at UBS.

Kristian Kabashi, Co-Founder and Co-CEO of Numarics says, ”At Numarics, we are revolutionizing business operations by combining the power of technology and world-class experts. We're excited to welcome UBS Next as our lead investor in this new round. Their financial expertise and backing will enable us to broaden our client base and expand our business. In addition to this investment, our partnership with UBS will enable us to deliver comprehensive financial and administrative solutions to ease the administrative headache and help growing businesses across Switzerland.”

Pascal Mathis, Founding Partner at Wingman Ventures, added, “The Numarics business operating system is transforming how SMEs function. In the past year, we have seen the team’s rapid growth and are certain with this round of funding Numarics will be able to impact more SMEs with its transformative solutions. We are happy to back Numarics outstanding team for the second time and support them in their vision.”

(Press release / SK)