Danish startup Plinto raises €2.9M to streamline financial controls

Copenhagen-based AI startup Plinto has secured €2.9 million in funding from People Ventures and Emblem to advance its AI-powered financial transaction monitoring platform. Led by co-founders Jakob Nielsen, Nermina Suljevic, and Sebastian Rehnby, the company's technology automates the detection and resolution of errors in financial transactions, a task typically performed manually by finance teams.

Plinto's AI agents integrate with existing systems such as ERP software, documents, banking systems, and communication tools like Slack and Microsoft Teams. These agents scrutinize transactions against contract terms, budgets, and internal policies, investigating discrepancies and gathering supporting evidence. Once a problem is identified, the agents can proactively follow up with relevant parties, contact suppliers regarding incorrect invoices, request credit notes, or prepare corrections for approval.

The startup aims to tackle challenges faced by larger businesses with high transaction volumes, where finance teams often resort to spot checks or month-end reviews, potentially overlooking incorrect charges or duplicate invoices until payments have been processed. Jakob Nielsen, co-founder and co-CEO of Plinto, emphasized that despite having recording systems, verifying transaction compliance with agreements and internal rules largely remains a manual process.

Currently serving customers in logistics, real estate, facility services, and food production, Plinto's AI agents have detected approximately 430 discrepancies per month in one customer's business. Another case involved the platform uncovering a duplicate invoice submitted under a different supplier name before a second payment could be made. Many of Plinto's clients operate with narrow margins, making even minor errors potentially significant.

With the new investment, Plinto intends to accelerate product development, acquire more enterprise customers, and commence its international expansion beyond Denmark.