Barcelona-based fintech startup Abacum has raised €52.5 million (US$60.25 million) in a series B funding round.

The round was led by Scale Venture Partners, with participation from Cathay Innovation and existing investors Y Combinator, Creandum, Kfund, and Atomico.

The company intends to use the funding to enhance its products and increase its presence in the US market. This market generates over half of its revenue.

According to the company, the funding will also support developments in AI-driven features. These include proactive business insights, improved scenario modeling, and enhanced collaborative workflows for finance teams.

Founded in 2020 by Julio Martínez and Jorge Lluch, Abacum provides a business planning platform aimed at finance teams.

🔗 Source: EU-Startups

🧠 Food for thought

1️⃣ CFO offices are adopting AI-driven tools at accelerating rates

Abacum’s €52.5 million Series B comes amid surging AI adoption in finance departments, with 80% of CFOs personally leading AI implementation in their organizations 1.

The timing is strategic as 98% of CEOs report immediate business benefits from integrating AI and machine learning into financial operations 2.

This funding reflects the broader market trend where AI in finance is projected to reach $190.33 billion by 2030, growing at a remarkable 30.6% CAGR 3.

Finance leaders are particularly focused on payment automation (63% reporting significant improvements), fraud detection, and cash flow forecasting as their primary AI use cases 1.

Abacum’s emphasis on “Agentic AI” aligns with the industry’s shift toward intelligent automation for streamlining processes and enhancing decision-making capabilities.

2️⃣ FP&A software market has become intensely competitive

Abacum operates in an increasingly crowded financial planning and analysis software space with numerous specialized competitors targeting different market segments 4.

Major players include enterprise-focused solutions like Anaplan, Excel-native tools like Vena Solutions, and startup-oriented platforms like Runway—each with distinct approaches to financial management 5.