Lithuanian fintech Deepfin raises €685k in a pre-seed funding

Vilnius-based fintech startup Deepfin has raised €685,000 in a pre-seed round of funding led by Superhero Capital, joined by Iron Wolf Capital. The startup develops simplified finance and tax management solutions for freelancers, ArcticStartup reports.

• Founded in 2021 by Algirdas Sakmanas, Deepfin is a personal financial assistant for freelancers. Deepfin’s app enables seamless invoicing, tracking of payments via open banking, ongoing tax liability estimates. So their clients can get paid faster, grow revenue, and manage tax bills.

“Our clients are typically a one-man show – they sell, deliver the actual service and provide customer support on their own. In addition, they dedicate 5-10 hours every month to manage their finances. Our product helps cut this down to a minimum, which frees up time for other activities,”

 Algirdas Šakmanas, CEO at Deepfin, explains the startup.

• Apart from freelancers, the app is useful for gig platforms seeking to cooperate with freelancers. Deepfin’s early corporate partners include mobility platforms Bolt and Wolt.
• Superhero Capital led the pre-seed funding round. It is a Finnish early stage venture capital firm with recent investments in AISPECO and Cloud Factory. Iron Wolf Capital, a seed stage VC fund from the Baltics, and several angel investors supported the round.
• DeepFin will use the fresh investment to further enhance its product, strengthen the team, as well as expand to additional European markets.