Fintastic, a Tel Aviv, Israel-based FP&A solution that uses probability science and risk-derived planning to give actionable insights and recommendations, announced that it raised $12 million in seed funding.
The round was led by Group 11, with participation from BGV ventures and additional angel investors, including public company CFOs and high-profile operators.
Fintastic has emerged out of stealth mode and is announcing the launch of its full-fledged Smart Product, the world's first AI-driven FP&A system. This tool supports organizations' planning and analysis needs, including real-time data sync with other systems, multiple plans, forecasts, and scenarios management; robust models' assumptions; reports from high-level views to the most granular drill-downs; collaboration; and insights—all at scale.
"We're introducing a new approach in the FP&A world. We use probability science and risk derivative planning to provide actionable insights and recommendations that will forever improve the way companies make decisions," said Jonathan Einav, Co-Founder & CEO.
The company is surrounded by top-notch active contributors like Ken Goldman, ex-Yahoo & Fortinet CFO; Bryan J. LeBlanc, WindRiver & ex-Jive CFO; and Paul Malchiolree, ex-Anaplan CRO.
Company: Fintastic Technologies, Inc.
Round: Seed Round
Funding Month: October 2022
Lead Investors: Group 11
Additional Investors: BGV ventures
Company Website: https://www.fintastic.ai/
Software Category: FP&A Software
About the Company: Founded in 2021 by Jonathan Einav, Co-Founder and CEO; Eric Shellef, Ph.D., Co-Founder and CTO; and Hamutal Anavi Russo, Co-Founder, and COO, with the ambition to disrupt the corporate performance management market. Fintastic is a complete FP&A solution that uses probability science and risk-derived planning to give actionable insights and recommendations that turn your data and financial model into real business value. Fintastic is built on three main pillars: client flexibility, closing the gap between planning and analysis, and delivering insights. It uses advanced AI, which enables state-of-the-art anomaly monitoring, trend detection, and risk-derived planning optimization, powering the world's first Smart FP&A solution. Fintastic is trusted by some of today's fastest-growing companies, such as Lattice, HiBob, Claroty, GlassBox, and others. Fintastic is headquartered in Tel Aviv, Israel.