fynk funding news – Vienna-based fynk Secures $3.5 Million in Funding

XING acquired prescreen.io for $20 million after its founders, Constantin Wintoniak, Dominik Hackl, and Markus Presle, successfully scaled the cloud-based HR technology.

The routines associated with managing legal documents proved to be a significant challenge during the pre-screening process. After working with XING for a few years, they discovered that big, publicly traded corporations handle their legal documents using expensive software packages like Ironclad or Icertis, which are out of reach for the great majority of small and medium-sized business owners.

Read also - xtype funding news – Austria-based xtype Secures €19 Million in Series A Round Funding

Such entrepreneurs' needs were taken into consideration when Funk was created. Similar to Hootsuite and Shopify, which have extended top-tier capability to the lower end of the market, Funk is focused on providing capabilities that meet the requirements of 90% of businesses at an affordable price.

Teams can easily analyze, manage, and process contracts with the help of fynk.Its platform is reasonably priced for small and medium-sized businesses, startups, and agencies because to its AI-integrated technology. Utilizing fynk, hundreds of thousands of documents have already been processed.

Constantin Wintoniak, co-founder and CEO of fynk said, “One of the leaders who have inspired us is Henry Ford. When Ford introduced the Model T, cars were only used by an elite of people, nobody thought it would be possible to produce them at a price point the majority of people could afford. With the advancement in AI-technology, fynk is now able to deliver functionality that typically comes with six or seven figure annual contracts for just a few hundred dollars a month.”

Along with current investors Hansi Hansmann (Hans(wo)men Group), Moritz Thiele (Finanzcheck), Ignaz Forstmeier (Personio), Domagoj Dolinsek (PlanRadar), Stefan Speiser (Latido), Alexander Brix (Canva), and Kai Romberg (Hg Capital), 3VC and 10x Founders spearheaded the investment.

Peter Lasinger, General Partner at lead investor 3VC: "The integration of AI technologies into contract management software is a game changer. It simplifies the analysis, content review and tracking of contracts in a way that was unthinkable until recently. fynk has developed tools that enable SMEs to use modern contract management that was previously only available to large organizations with the necessary human resources."

Felix Haas of 10x Founders, who is also host and chairman of Bits & Pretzels said, "With its software, fynk is changing a market that has not been particularly notable for innovation in recent years. fynk's solution promises a time-saving product that also enables non-lawyers to multiply their productivity and thus ideally fulfills our investment credo. Apart from that, the founders have already proven in the past that they can scale a software company,".

Accelerating product development and expanding international market presence are made feasible by the funding round. Currently, the company offers its software in both German and English, with the majority of its customers being in the DACH region.

About fynk

fynk empower businesses to make contract workflows their competitive advantage. Their teams use fynk to create beautiful and re-usable contracts, fill them with dynamic data and conditional logic, collaborate and sign in real-time, while delivering a best-in-class experience to their customers.