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On Wed, 16 Apr, 4:04 PM UTC
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[1]
Assiduous secures €1m in funds, amid plans for growth
The organisation will use the funds to expand its technical team, product and engineering teams and explore the potential of agentic AI. Assiduous, a corporate finance platform for SMEs, has secured €1m in a private investment round that was backed by experienced business owners and executives, as well as Enterprise Ireland's High-Potential Start-up programme. The round was established to enable Assiduous to execute its growth plans throughout 2025 and 2026. Founded in 2023 by Fergal Meegan and Barry Murphy, Assiduous is headquartered at NovaUCD in Dublin. The platform enables small and medium sized organisations to automate their funding strategies via AI-powered technology. Assiduous intends to use the funds to expand its technical team, recruit product and engineering talent with AI expertise and explore the potential for agentic AI. Having recently completed the EU co-funded EIT Digital Open Innovation Factory 2024 programme, the organisation has a strategic partnership with Euronext Group and benefits from the support of stakeholders in the European innovation ecosystem. Commenting on the announcement, co-founder and CEO Meegan said, "Businesses are at a pivotal moment in the application of technology to the provision of professional services. We are only scratching the surface with the value that can be created for business owners from leveraging AI to do more with less. "Assiduous is focused on embedding corporate advisory domain expertise at the application layer to unlock the power of foundation models for many more small and medium sized business owners seeking to contemplate, plan and execute high value corporate actions." Conor O'Donovan, the head of start-ups at Enterprise Ireland, added, "Assiduous is an excellent example of a forward-thinking Irish start-up that is using cutting-edge technology to address a massive unmet market need. "The company's growth plans align with Enterprise Ireland's new five-year strategy delivering for Ireland, leading globally, with a key objective to support and enable SMEs to engage with the start-up ecosystem, to execute financing and strategic transactions and to grow the next generation of Irish multinational corporations." In September of 2024, Fergal Meegan was a guest speaker at the New Frontiers programme, which fosters start-up talent and recognises achievements at the end of the six-month itinerary. Meegan and Assiduous are previous winners, having been involved the year prior. Don't miss out on the knowledge you need to succeed. Sign up for the Daily Brief, Silicon Republic's digest of need-to-know sci-tech news.
[2]
Irish capital markets tech company Assiduous secures €1 million in funding
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. Assiduous' Corporate Finance AutopilotTM, a virtual corporate finance service-as-a-software solution, enabled by the latest AI advances, bridges the gap between business owners and capital markets. The Corporate Finance AutopilotTM supports small and medium sized companies preparing for strategic, financing and liquidity transactions with a whole of lifecycle approach. Through this oversubscribed private investment round, which was backed by experienced business owners and executives, with the support of Enterprise Ireland High-Potential Start-Up (HPSU) funding, Assiduous secured the funding to bring its AI native solution to market and to execute on its product development roadmap through 2025 and 2026. The company will also use the funding to expand its technical team, to take advantage of the latest advances in agentic AI and recruit exceptional product and engineering talent with a passion for applying AI to high value use cases. Having also recently completed the EU co-funded EIT Digital Open Innovation Factory 2024 programme of activities, Assiduous has established a strategic collaboration with Euronext Group to facilitate access for small and medium sized companies to Euronext markets earlier in their lifecycle. As a constituent of EIT Digital's Equity Portfolio Assiduous will benefit from continued support and access to stakeholders in the European innovation ecosystem. Assiduous was founded by experienced investment bankers Fergal Meegan and Barry Murphy and is headquartered at NovaUCD in Dublin. Fergal Meegan, Chief Executive Officer, Assiduous, said, "Businesses are at a pivotal moment in the application of technology to the provision of professional services. We are only scratching the surface with the value that can be created for business owners from leveraging AI to do more with less. Assiduous is focused on embedding corporate advisory domain expertise at the application layer to unlock the power of foundation models for many more small and medium sized business owners seeking to contemplate, plan and execute high value corporate actions." Conor O'Donovan, Head of Start-ups at Enterprise Ireland, said, "Assiduous is an excellent example of a forward-thinking Irish start-up that is using cutting-edge technology to address a massive unmet market need. The company's growth plans aligns with Enterprise Ireland's new five-year strategy Delivering for Ireland, Leading Globally, with a key objective to support and enable SMEs to engage with the start-up ecosystem, to execute financing and strategic transactions and to grow the next generation of Irish multinational corporations." Dénes Csiszár, Interim Head of Acceleration and Growth at EIT Digital, said, "We are pleased that we could provide financial support for Assiduous at a formative stage in its evolution. We are excited about Assiduous' prospects to solve some of Europe's critical strategic and financing challenges for SMEs using the latest artificial intelligence innovations. We look forward to witnessing Assiduous' progress in the coming years as a as a champion for European SMEs and as a shareholder."
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Irish startup Assiduous raises €1 million to develop AI-powered corporate finance solutions for SMEs, with plans to expand its team and explore agentic AI applications.
Assiduous, an Irish corporate finance platform for small and medium-sized enterprises (SMEs), has successfully secured €1 million in a private investment round. The funding, supported by experienced business owners, executives, and Enterprise Ireland's High-Potential Start-up programme, will fuel the company's growth plans through 2025 and 2026 12.
Founded in 2023 by Fergal Meegan and Barry Murphy, Assiduous is headquartered at NovaUCD in Dublin. The company's flagship product, the Corporate Finance Autopilot™, is a virtual corporate finance service-as-a-software solution that leverages advanced AI technologies to bridge the gap between business owners and capital markets 2.
Fergal Meegan, CEO of Assiduous, emphasized the transformative potential of their technology: "We are only scratching the surface with the value that can be created for business owners from leveraging AI to do more with less. Assiduous is focused on embedding corporate advisory domain expertise at the application layer to unlock the power of foundation models for many more small and medium-sized business owners seeking to contemplate, plan and execute high value corporate actions" 1.
The newly acquired funds will be utilized to:
Assiduous has also completed the EU co-funded EIT Digital Open Innovation Factory 2024 programme, establishing a strategic partnership with Euronext Group. This collaboration aims to facilitate earlier access for SMEs to Euronext markets 2.
The startup has garnered support from key organizations in the Irish and European innovation ecosystems. Conor O'Donovan, Head of Start-ups at Enterprise Ireland, praised Assiduous as "an excellent example of a forward-thinking Irish start-up that is using cutting-edge technology to address a massive unmet market need" 1.
Dénes Csiszár, Interim Head of Acceleration and Growth at EIT Digital, expressed excitement about Assiduous' potential to "solve some of Europe's critical strategic and financing challenges for SMEs using the latest artificial intelligence innovations" 2.
As Assiduous moves forward with its ambitious plans, the company is poised to make a significant impact on the corporate finance landscape for SMEs. By leveraging AI technologies and strategic partnerships, Assiduous aims to democratize access to high-quality financial services and support the growth of the next generation of Irish multinational corporations 12.
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Irish startup Advise raises $1.6 million to develop its AI-powered SaaS platform, aiming to revolutionize pricing strategies for fast-moving consumer goods companies and expand its global presence.
2 Sources
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Desia, a startup founded by Scalapay co-founder Simone Mancini, has raised $3.3 million in seed funding. The company aims to develop AI applications to enhance decision-making processes for investment professionals.
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9fin, a London-based fintech, raises $50 million in Series B funding to enhance its AI-driven analytics platform for global debt capital markets, aiming to revolutionize the industry with advanced technology and expand its U.S. presence.
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NOSIBLE, an AI startup specializing in stock market research, has raised $1 million in pre-seed funding. The company's innovative approach to AI-powered search technology promises to revolutionize asset management and financial analysis.
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CredCore, a vertical-AI company, has raised $16 million in Series A funding to transform the enterprise credit industry using domain-specific AI, accelerating deal throughput and empowering customers to scale their assets under management.
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