Candis

Based in Germany, Candis offers a cloud-based, AI accounts payable (AP) management platform that automates invoice receipts, data entry, invoice approval, as well as exporting and reporting data. Users can also import invoice bundles in a SEPA-XML format to their preferred payment system to settle due invoices. Candis also offers visibility and insights to its customers, including setting and monitoring quarterly and annual budgets. The platform also automates the accounting processes, through its integrations with several platforms such as DATEV, Sage, and Wolters Kluwer.

Candis charges its users on a subscription basis, with packages starting at EUR 249 per month. Packages vary based on the documents handled, number of companies, account managers, premium support, etc.    

As of September 2022, the company had plans of launching a business expense card, which functions similar to a company credit card, except it would be issued to all employees. The cards aim to provide better expense visibility and avoid the need for employees to bear out-of-pocket expenses for the business. 

Key customers and partnerships

Candis targets small and medium-sized businesses (SMBs) and had over 10,000 enterprise users as of September 2022.  

Funding and financials

Candis noted that the processed invoice volumes grew by around 9x in the two years leading to September 2022, as its monthly billing volume reached EUR 1 billion. 

The company raised EUR 15.9 million (USD 16 million) in funding in September 2022, led by Viola Fintech, to invest in launching its business expense cards, improving its invoice management solution, building more integrations for its platform, and expanding its workforce.