The archive · Money & Fintech · Strategic decision · 2019–2025
Simetrik's AI Reconciliation Enters US, Series B Hits $85M
Founded in Bogotá in 2019, Simetrik bet on AI financial reconciliation; by 2025-06 its Series B reached $85M, processing 1B+ records daily.
Simetrik
What the business is
Simetrik is a B2B SaaS platform for enterprise finance teams that automates cross-system transaction reconciliation, compliance controls, and financial data standardization, with customers including Nubank, Mercado Libre, Itaú, Rappi, Sephora, and others.
Starting capital：In 2024, the Series B first tranche raised $55M; on 2025-06-04, Goldman Sachs Alternatives followed on with $30M, bringing the cumulative Series B to $85M and the company's cumulative financing to more than $110M.
How it started
Alejandro Casas and Santiago Gómez founded Simetrik in Bogotá in 2019. After seeing Latin American fintech take off, the two founders observed that merchants, banks, and payment aggregators faced transaction flows from dozens of channels every day, while reconciliation was still done with manual spreadsheets, and errors, omissions, and compliance risks grew exponentially with transaction volume.
What happened
The platform was first validated in Colombia and Latin America: no-code configuration plus agentic AI processed more than 1 billion records per day, and the customer list expanded to enterprises in more than 40 countries, including Santander, Mercado Libre, Oxxo, Rappi, PayU, PagBank, Falabella, Itaú, and Nubank, with annual revenue growing 100% year over year. In 2024, Goldman Sachs Alternatives led the $55M first tranche of the Series B, and in June 2025 it invested an additional $30M, raising the Series B to $85M, while partner Hillel Moerman joined the board.
How it ended up
Still expanding: the additional $30M will be used to accelerate US expansion and scale core Latin American markets such as Brazil; starting in 2025-06, the goal is to become the reconciliation standard layer for high-volume, highly regulated markets.
Background
Simetrik's bet: AI will automate enterprise financial reconciliation. Founded in Bogotá in 2019 by Alejandro Casas and Santiago Gómez, they saw Latin American fintech booming, but finance teams still used spreadsheets. Their no-code AI platform standardizes data, matches transactions, alerts anomalies, and exports for forecasting.
Validated in Latin America: by mid-2025, processed 1B+ records daily in 40+ countries, with customers like Santander, Mercado Libre, Rappi, and Nubank; revenue grew 100% YoY. Goldman Sachs Alternatives led $55M in 2024, then $30M on 2025-06-04, totaling $85M Series B.
Funds will accelerate US entry and deepen Latin American focus, especially Brazil. CEO Casas sees Brazil as key; Goldman's Moerman sees demand in regulated markets. This round upgrades Simetrik from regional tool vendor to global automation standard candidate.
What has to be true
- Pain points are borderless: exploding transaction volumes leave finance teams in any market short of staff, and automated reconciliation is a clear budget item.
- Latin America first-mover advantage: local payment giants are concentrated, allowing startups to accumulate real customers and massive transaction data ahead of US competitors.
- Revenue proof: annual revenue doubled and the customer list includes Nubank/Mercado Libre/Itaú, indicating demand that is not bought with subsidies.
- Capital endorsement: Goldman Sachs Alternatives led two consecutive rounds and joined the board, opening a trust channel into the US enterprise market.
What can be applied
Emerging-market startups can refine products on local high-volume transactions, then enter mature markets; reconciliation pain is borderless.
Aftermath
As of 2025-06-04: Simetrik is still expanding rapidly, with a cumulative Series B of $85M, total financing of more than $110M, daily processing of more than 1 billion records, a focus shifted to the US market and deeper work in Brazil; the official statement is annual revenue growth of 100% year over year, with no information on contraction or shutdown.
Sources
- Simetrik Raises Additional $30 Million to Scale AI Reconciliation Platform Across the U.S. and High-Growth Markets
- Simetrik raises $30M Series B extension round
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