Outmin Secures €4M Funding and Appoints Former PwC Ireland Head as Chairman
Deal News | May 28, 2025 | PR Newswire Cision Outmin
Outmin, a Dublin-based AI bookkeeping startup, announced it has raised €4 million in a funding round led by Praetura Ventures, with NPIF II – Praetura Equity Finance participating. The company has also appointed Feargal O'Rourke, the former Managing Partner of PwC Ireland and current Chairman of IDA Ireland, as Chairman of the Board. The funds will be used to enhance the company's engineering team, deepen its AI capabilities, and expand its presence, particularly in the UK's North West region. Outmin automates financial workflows for accounting firms, allowing them to enhance efficiency and profitability by focusing human resources on higher-value tasks. The company's platform currently serves 350 businesses, with partnerships with 11 accounting practices. This funding round marks an important step for Outmin in modernizing core bookkeeping processes and extending its reach internationally.
Sectors
- Financial Technology (FinTech)
- Investment Management
- Accounting Services
Geography
- Ireland – Outmin is headquartered in Dublin, Ireland, and its core operations and initial market presence are focused in this region.
- United Kingdom – The expansion plans of Outmin to the North West of England indicate its strategic interest and growing operations within the UK market.
Industry
- Financial Technology (FinTech) – The article discusses Outmin's AI-driven bookkeeping services, a quintessential example of FinTech innovation aimed at automating financial data production, enhancing data accuracy, and driving efficiency in accounting.
- Investment Management – Praetura Ventures' involvement in Outmin's funding round highlights the role of venture capital and investment management in fostering and scaling technology innovations.
- Accounting Services – Outmin provides services that automate bookkeeping processes for accounting firms, directly impacting the accounting services industry by encouraging a shift towards automated solutions.
Financials
- €4 million – The total amount raised by Outmin in the latest funding round led by Praetura Ventures and NPIF II.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Outmin | Target Company | Company | A Dublin-based startup that provides AI-driven bookkeeping services aimed at automating and improving efficiency in financial data handling. |
| Praetura Ventures | Investor | Company | A venture capital firm leading the €4 million funding round for Outmin via its Praetura EIS Growth Fund and NPIF II – Praetura Equity Finance. |
| Feargal O'Rourke | Chairman of the Board | Person | Former Managing Partner of PwC Ireland and current Chairman of IDA Ireland, now appointed as the Chairman of Outmin. |
| Ross Hunt | CEO and Founder | Person | CEO and Founder of Outmin, involved in leading the company's strategic growth and development post-funding. |
| David Kelleher | Co-Founder and Chief Revenue Officer | Person | Co-Founder and CRO at Outmin, responsible for driving revenue and strategic partnerships. |
| Northern Powerhouse Investment Fund II | Investor | Company | A fund aimed at supporting small and medium-sized businesses in the North of the UK, part of the investment in Outmin. |
| Nexio | Partner Firm | Company | One of the forward-thinking accounting firms partnered with Outmin to enhance service offerings through their platform. |