consalio, a Düsseldorf, Germany-based software startup, secured €1.2 million in funding to address the growing demand for effective cost management in consulting services.
The funding round saw participation from investors such as Raakwark Kaptaal, NRW.BANK, and business angels including Oliver Dehning, Benjamin Ruschin, and Hendrik Sämisch. Additionally, existing investors have increased their involvement in consalio, with Stefan Dörpinghaus of NRW.BANK investing directly in the company through NRW.SeedCap.
The financing will allow consalio to further expand its platform and provide customers with more comprehensive transparency regarding their consulting costs. The additional funds will be utilized to strengthen the sales team and expand the development team.
“With the fresh capital, we will further expand our platform and offer our customers even more comprehensive transparency about their consulting costs," said Felicia Mundhenke, CEO and Co-Founder of consalio.
consalio offers a software solution that provides companies with complete transparency over their consulting costs, enabling them to achieve savings in resource utilization.
Company: consalio GmbH
Funding Month: July 2023
Additional Investors: Raakwark Kaptaal, NRW.BA, Oliver Dehning, Benjamin Ruschin, and Hendrik Sämisch
Company Website: https://consalio.com/
Software Category: Advisor Spend Management solution
About the Company: Founded in 2021 and led by founders Felicia Mundhenke (CEO) and Seong-Min Kang (CTO), consalio is a B2B SaaS solution that provides full transparency of all ongoing advisor activities and costs in the company. The platform enables companies to transparently manage costs and efficiently control projects for all consulting services. The company's mission is to transform the way corporates and advisors work together.