Spendesk Becomes First Profitable AI-Driven Spend Platform

Spendesk, the AI-powered spend management and procurement platform, today announces a major milestone: it has achieved profitability, marking one full quarter in the black. This achievement makes Spendesk the first European spend management and procurement platform to reach profitability, a bold step forward in the industry’s evolution. Since its €2 million seed round in 2017, Spendesk has rapidly evolved from a disruptive startup to a profitable market leader. The company surpassed €1 billion in spend...

Ethos Secures $6M to Modernize Model Risk Management for Banks & Fintechs

Ethos, the modern model risk management platform, announced today a seed investment of $6M to become the gold-standard platform enabling financial institutions and fintech to manage model risk with confidence. The funding round was led by Canapi Ventures, with participation from Capital One Ventures and Better Tomorrow Ventures. Financial institutions today rely extensively on AI, machine learning, and other data-driven models to make critical decisions – from lending and loss forecasting to fraud detection and anti-money laundering efforts. The acceleration of GenAI...

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