Danish startup Light wants to revolutionize how CFOs work. Here's the 10-slide pitch deck it used to raise $13 million and emerge from stealth.
- Light raises $13 million to enhance CFO transaction management with automated ledgers.
- Founded in 2022, Light aims to disrupt legacy ERP systems like Oracle's Netsuite and SAP ERP.
- With funding led by Atomico, the company will expand teams in London and New York.
Light, a Copenhagen-based startup that helps CFOs manage their transactions, has raised $13 million in funding.
Emerging from stealth, Light is targeting enterprise resource planning (ERP) software. Specifically, general ledgers are the main bookkeeping for companies' financials, including assets, liabilities, equity, expenses, and income or revenue.
Founded in late 2022, Light wants to build an automated digital ledger for multinational businesses, competing with legacy ERP systems like Oracle's Netsuite, Microsoft Dynamics, and SAP ERP.
"A lot of the pain and complexity of the current CFO stack is because all of the existing tools need to make the business work with the underlying ledger, of which there are only two or three solutions and no new entrants in the last 30 years," Jonathan Sanders, CEO at Light, told Business Insider. "By rebuilding a global ledger database, we can truly leverage the benefits of great design, the new capabilities of AI, and fully use the performance of the cloud for intelligent and instant reporting across the organization."
Sanders formerly cofounded Swedish fintech startup Juni and was head of payments at Danish unicorn Pleo. Light's platform wants to combine accounting, tax, payments, and reporting across multiple countries and currencies, using an AI tool to "clean" transactional data so it's correctly stored in the ledger.
The $13 million funding round was led by European VC firm Atomico and included checks from Entrée Capital, Cherry Ventures, and Seedcamp. Soccer player Mario Götze, a leading athlete investor, also participated.
The funding will go toward scaling up the company's commercial teams in London and New York across marketing, sales, engineering, product, and customer onboarding, Sanders added. Light currently has 20 people, and it will grow the team to 40 over the next half-year, he said.
Check out Light's 10-slide pitch deck below: