A German startup building AI agents for accounting today said it had deliberately chosen to be based in Munich over Silicon Valley after going through Y Combinator in San Francisco and raising a £3.4m seed round.
Finto says it wants to be based in Munich, as it says European finance teams need European solutions, built by people who understand the market, the regulatory environment, and ERPs (enterprise resource planning systems) firsthand.
Jonas Morgner, co-founder & CEO, Finto, said: "We chose Munich deliberately: the talent is here through TU Munich (Technical University of Munich), our customers — Europe's industrial mid-market and enterprises — are here, and the enterprise-software core we build on, including SAP, is on our doorstep."
The seed round funding comes from Y Combinator, Gradient, the VC firm spun out from Google owner Alphabet, as well as US VC giant Lightspeed.
Finto went through Y Combinator in San Francisco in 2025. According to Y Combinator's website, 49 startups, currently headquartered in Germany, have been through Y Combinator.
