Declaro, a newly launched Romanian online accounting platform, has secured approximately €1 million in seed funding from its founders and private investors to fuel its expansion across Eastern Europe’s growing fintech landscape.
The Bucharest-based company has developed a software-as-a-service solution designed specifically for small business accounting needs. The platform automates core accounting functions including invoicing, electronic invoicing, bank transaction processing and financial reporting, addressing a significant pain point for accountants and small enterprises managing their finances.
Focused investment strategy
The company allocated between 60-70% of the initial capital to technology development and platform enhancement, according to available information. This investment approach underscores Declaro’s commitment to building robust infrastructure capable of handling increased transaction volumes as the user base expands.
The platform already counts approximately 200 customers following its launch, with the founders targeting growth to 1,000 customers within the next year. This measured expansion strategy reflects realistic market penetration goals for a seed-stage fintech startup entering a competitive segment.
Shifting accountant workflows
Alexandru Puiu, speaking on behalf of the company, outlined the philosophy guiding Declaro’s design: “We want to give accountants the tools to practice their profession at the level of their preparation: to verify, explain, advise and stay close to the client. Technology takes over the routine, and the expert uses their time where they create the most value. This model’s efficiency allows us to make the service accessible to an ever-growing number of small firms while maintaining the same quality standard as the business scales,” Puiu stated.
This positioning reflects a broader trend in European fintech where automation complements rather than replaces professional expertise. By handling repetitive administrative tasks, accounting software enables professionals to dedicate more time to strategic advisory work and client relationships, potentially increasing service value.
Broader ecosystem context
Romania has emerged as an increasingly active hub within the Central and Eastern European startup ecosystem, particularly in fintech and business software sectors. The country’s digitalization momentum, driven partly by EU regulatory requirements and business modernization demands, creates favorable conditions for accounting automation solutions.
Declaro enters a market where several European competitors already operate, including platforms from Western Europe and other regional players. However, the localization of accounting solutions remains important given differing regulatory requirements across EU member states and varying business practices.
The successful seed funding round for Declaro demonstrates continued investor appetite for business software solutions addressing operational inefficiencies in traditional sectors like accounting and bookkeeping. As European businesses increasingly digitalize their operations, particularly following pandemic-accelerated remote work adoption, demand for integrated accounting platforms accessible to small firms continues growing.