SmartFin, the investment fund of Jürgen Ingels and Stefan Dierckx, invests in BrightAnalytics.
SmartFin, the investment fund of Jürgen Ingels and Stefan Dierckx, invests in BrightAnalytics. The Belgian start-up uses visual software to make complex financial reporting possible in real time. This investment, and especially the experience of SmartFin, opens the doors for strong growth.
Hooglede / Sint-Katelijne-Waver – 04 October 2017 –
Jürgen Ingels has found the latest apple of his eye. With his investment fund Minos Capital, he will be a shareholder of BrightAnalytics. Through Minos Capital, the founder of Clear2Pay and SmartFin Capital previously invested in Silverfin, among others. The West-Flemish BrightAnalytics translates financial and operational figures into visual and accessible information in real time. “BrightAnalytics brings together all data from a company’s ERP package with all accounting data. The analysis is immediate and user-friendly. This gives managers, board members, or even employees the right insights for the best decisions at any time,” explains Olivier Seynhaeve, one of the three founders of BrightAnalytics.
Quite remarkable for a tech company, BrightAnalytics has been profitable since its first year. “The capital injection from SmartFin is smart money,” adds co-partner Merijn Demuynck. “After three years of development, our product is at the top level. Now, we have to conquer the market share in Belgium and Europe. The experience, contacts, and advice of an ICT guru like Jürgen Ingels are of enormous value when doing this.”
The choice for BrightAnalytics is fully in line with the fintech strategy of SmartFin and Jürgen Ingels. The investment comes after previous collaborations between SmartFin and BrightAnalytics. “Real-time reporting in financial organisations or complex business structures is becoming increasingly important. BrightAnalytics makes figures transparent and creates an overview in real time. The direct analysis of operational and financial figures is essential for strategic decisions,” says Ingels, who was voted ICT Person of the Year in 2015.
“Our objective is to conquer market share in Belgium and Europe. The experience, contacts and advice of an ICT guru like Jürgen Ingels are of enormous value in this.”
Merijn Demuynck, Co-Founder
BrightAnalytics focuses on all sectors and industries. “The more complex the business structure, the greater the added value of BrightAnalytics,” says co-founder Lode Bogaert. The platform has a broad Belgian customer portfolio – from HR services to construction companies and investment funds – and also has initial customers in the Netherlands, Germany and Ireland. This year the milestone of 1 million euro turnover will be reached. The capital injection goes hand in hand with a recruitment round; within the year, BrightAnalytics is looking for 3 software developers to strengthen the team.
BrightAnalytics is a Belgian start-up from Hooglede. With software-as-a-service, the platform combines all of a company’s financial and operational data in real time into an accessible and visual dashboard for faster and more informed strategic decisions. Founded in 2014, today the company has 7 employees and a turnover of 1 million euros with customers in Belgium, the Netherlands, Germany and Ireland.
Minos Capital is an investment company that helps young technology companies grow in Europe. Minos Capital invests in pre-seed and seed funding rounds of companies in the financial technology, cleantech, software and big data sectors very early on. Portfolio companies include Projective, Qpinch and Silverfin. Minos Capital was founded in 2012 by Jürgen Ingels (ex Clear2Pay, SmartFin Capital, B-Hive) and Stefan Dierckx (Projective).