Briefcase funding news – London-based Briefcase has Secured €2.8 Million in Seed Funding

Other investors include Entrepreneur First, Tiny, and several angel investors, including the founders of Pennylane, a leading accounting tech company, and executives from Deel, Pleo, and 11X.

Reuben Steenkamp, CEO of Briefcase, said: “The accounting industry has only seen one major innovation in the past decade—the move from desktop to cloud. With the rise of multimodal AI, we’re positioned to lead the coming AI revolution.”

The platform aims to automate tasks like bookkeeping and month-end closing using advanced AI, workflows, and embedding technologies. Briefcase plans to improve on current solutions by directly connecting with popular platforms like Xero and QuickBooks.

Briefcase’s automation solves a major problem in accounting: the large number of repetitive tasks and the challenge of hiring and keeping junior staff. Many UK firms have turned to outsourcing, which can lead to quality issues and added management costs.

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Briefcase envisions a future where AI handles time-consuming tasks, so accountants can focus on more strategic advisory work that benefits clients.

The company is still in the pre-launch phase but is already working with several UK accounting firms. A beta program is in progress, allowing early users to help shape the product through feedback and testing.

Earlybird Principal Akash Bajwa shared their conviction about team Briefcase: “LLMs, vision models, and the new scaling potential of reasoning unlock a completely new paradigm of automation in accounting than was possible before. We’ve been following this category for a long time and knew we had found the right team to execute against it after our first interaction with Reuben and Ján. They combine deep domain understanding with an incredible learning rate around the AI engineering needed to deliver truly agentic capabilities to this industry.”

Funding Utilisation

The €2.8 million in seed funding will help Briefcase hire engineers and product experts, speed up development, and grow its operations to better serve its growing group of early users.

About Briefcase

Briefcase was founded by Reuben Steenkamp, who previously worked in Starling Bank’s CFO office, and Jan Stehlik, who built AI systems at the fintech startup Nous. The company is developing the first AI-native accounting automation platform.