Moss raises EUR €35 million in Portage-led funding

Moss has raised €35 million in a Series C funding round led by Portage, valuing the company at €1 billion.

Cherry Ventures also participated in the round, bringing Moss's total funding to more than €200 million. The Berlin-founded finance software group says finance teams use its platform at more than 5,000 businesses across Germany, the Netherlands, the UK and other European Union markets.

Moss plans to use the new capital to develop what it calls Finance AI, with tools for finance teams handling tasks including spend management, accounts receivable, journal entries and month-end close. The company says its approach keeps human oversight in place, with finance teams directing the software, reviewing its output and approving key actions.

Its software is designed to work alongside existing finance systems rather than replace them. The platform includes receipt capture and matching, invoice workflows, policy controls, pre-accounting tools, and more than 50 accounting and enterprise resource planning integrations, including Xero, NetSuite and DATEV.

Control focus

Moss argues that finance departments want tighter supervision of AI in sensitive processes rather than fully autonomous tools. It cited survey findings from 471 customers showing that 65% ranked "fully autonomous" last among five AI promises, while only 6% ranked it first.

By contrast, 48% ranked control first, a pattern the company says was consistent in the UK, Germany and the Netherlands. The same survey found AI adoption was strongest in communications and reporting, while use in functions such as month-end close, reconciliation and audit preparation was around a quarter of businesses or less.

Moss also says about a third of customers now view AI as a must-have when buying finance tools. In its model, the software prepares work for teams, flags cases where it is uncertain and shows the reasoning behind outputs down to ledger account, VAT treatment and cost centre. Consequential decisions remain with staff, with an audit trail maintained throughout.

That stance reflects a broader debate in financial software over how far automation should go in regulated and compliance-heavy workflows. Errors made by unsupervised systems can affect books and reporting across repeated transactions, making oversight a key issue for finance teams and software providers alike.

"With this funding round, Moss has solidified itself as a market leader in helping finance teams across Europe improve their day-to-day operations," said Ante Spittler, Chief Executive Officer and Founder of Moss. "We are excited to have Portage alongside us in this journey with support from our existing investors."

Spittler also outlined how the company sees AI changing finance work inside businesses.

"Finance teams have trusted us for years to keep them in control of every step, first of their spend, and now of the AI doing the work," said Spittler. "As AI absorbs the manual, close-the-books work, finance stops being the back office and becomes the function that steers growth and profitability."

Investor backing

Portage, which led the round, focuses on financial technology investments. Its backing gives Moss support from a specialist investor as competition grows among software groups adding AI features for finance and accounting departments.

"As specialist investors in the financial technology sector, we are keenly aware of the unique challenges faced by finance organizations," said Dan Ballen, General Partner and Co-Head of Portage Capital Solutions at Portage. "Moss's AI-powered technology platform has quickly emerged as a best-in-class solution for finance teams in a wide range of end markets. We are excited to support Ante and the broader team as they continue to experience rapid growth across the continent."

Moss serves mid-sized businesses and says its customers include Flink, Schufa, Gusto and Auto1. The company operates across several European markets as software providers race to embed AI into finance workflows without losing the controls accounting teams require.