About CFO Stack sector in Belgium
The CFO Stack sector in Belgium comprises 182 companies, including 46 funded companies having collectively raised $129M in venture capital money and private equity. Out of these, 24 are Series A+ funded.
CFO Stack sector in Belgium has seen 19 acquisitions and 2 IPOs. This represents almost 11.5% of all such companies - which is higher than the 5.0% exit rate of tech companies in general.
This sector includes a collection of specialized tools and necessary systems/software that enable finance teams to effectively handle their daily tasks.
CFO Stack sector is also known as Tech Stack for Office of the CFO.
It includes software to automate major functions in CFO office like Financial Planning and Analysis, Budgeting, forecasting, treasury management, accounting, etc. It excludes all the Non-financial tools that do not integrate seamlessly with financial operations,.
Top CFO Stack Companies in Belgium
There are 182 CFO Stack startups in Belgium which include Unifiedpost Group, Rydoo, Accountable, Gambit Financial Solutions, Easi. Out of these, 46 startups are funded, with 24 having secured Series A+ funding.
Over the past 10 years, an average of 7 new companies have been launched annually. Notably, several of these startups have been founded by alumni of Cornell University, Duke University and Harvard University.
Here is the list of top CFO Stack startups in Belgium
Invoice payment and acceptance solution for businesses. Enables invoice payment processing, paying and getting paid on time, multiple payments in one go, automated payment reminders, and more.
Key facts about Unifiedpost Group
2. Rydoo
AI & SaaS-driven expense management platform for businesses. The platform provides users with travel and expense management for companies and enterprises. It offers real-time expenses, travel expense management, and more. Their features include expense approval in real-time, digitization of paper receipts, data insights, mileage tracking, and online travel booking.
Key facts about Rydoo
- Founded Year: 2013
- Location: Mechelen (Belgium)
- Stage: Late Stage
- Investors: Marlin Equity Partners, Eurazeo and 1 Other
- Latest Funding Round: PE, Jun 19, 2024, $*****
- Tracxn Score: 61/100 What is this?
- Competitors Rank: 2 of 20 Competitors
3. Accountable
App-based accounting management solutions for freelancers. It features solutions for invoice management, bank reconciliation, forecasting for tax payments, accounting & tax advisory, document management, and more. Its app is available for both IOS and Android devices and the pricing is available on a monthly subscription plan.
Key facts about Accountable
- Founded Year: 2017
- Location: Brussels (Belgium)
- Stage: Series A
- Total Funding till date: $12.9M
- Investors: Connect Ventures, Stride and 4 Others
- Latest Funding Round: Series A, May 05, 2022, $*****
- Tracxn Score: 61/100 What is this?
- Competitors Rank: 3 of 171 Competitors
Gambit Financial Solutions provides solutions in investor profiling, portfolio allocation, and risk management. The solutions are used by financial institutions in Belgium, Luxembourg, Switzerland, and France. The company provides Advisor-Guided (Squiree) )as well as Self-Guided (Birdee) investment solution. Their risk management solution aggregates data from multiple sources, measures various types of risk measures and generates performance reports. In September 2017, a majority stake of the company was taken by BNP Paribas Asset Management.
Key facts about Gambit Financial Solutions
- Founded Year: 2007
- Location: Liege (Belgium)
- Stage: Acquired
- Tracxn Score: 54/100 What is this?
- Competitors Rank: 17 of 587 Competitors
5. Easi
EASI offers an accounting, e-invoicing, and purchasing software for enterprises. A cloud-based accounting software system allows enterprises to manage their accounting processes using the Internet. Some of the features include e-invoicing, cash flow management, paperless accounting, workflow approvals, banking, and budgeting. It also provides enterprises with insight into the financial health of the business. The subscription charges vary from €390 per month depending on the number of features.
Key facts about Easi
- Founded Year: 1999
- Location: Nivelles (Belgium)
- Stage: Unfunded
- Tracxn Score: 52/100 What is this?
- Competitors Rank: 17 of 406 Competitors
Companies founded year-on-year in the CFO Stack sector in Belgium
16 CFO Stack startups in Belgium were founded in 2020 - this is the most number of startups founded in any year in the last 10 years.
- Total Number of Companies
Year | No. of companies |
|---|---|
2026 | - |
2025 | 1 |
2024 | 2 |
2023 | 3 |
2022 | 7 |
2021 | 6 |
2020 | 16 |
2019 | 16 |
2018 | 12 |
2017 | 8 |
Stage-wise distribution of CFO Stack sector companies in Belgium
Out of the total 182 CFO Stack companies in Belgium, 46 have secured funding. Among them, 24 have reached Series A or higher, and 23 to Series B or beyond.
Founded - 182
Funded - 46
Series A+ - 24
Series B+ - 23
Series C+ - 23
Company Stage | No. of companies |
|---|---|
Founded | 182 |
Funded | 46 |
Series A+ | 24 |
Series B+ | 23 |
Series C+ | 23 |
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Funding Trends in the CFO Stack sector in Belgium
Total funding year-on-year in the CFO Stack sector in Belgium
The CFO Stack sector in Belgium saw a total funding of more than $111M in the last 10 years. The most amount of funding was in 2018 at more than $37.8M.
- Total Funding
Year | Total Funding |
|---|---|
2025 | $854K |
2024 | $2.76M |
2023 | $20K |
2022 | $7.29M |
2021 | $7.35M |
2020 | $12.5M |
2019 | $10.6M |
2018 | $37.8M |
2017 | $16M |
Recent Funding Rounds in CFO Stack in Belgium
In the year 2025, till May 2025, CFO Stack companies in Belgium have raised $854K in equity funding across 1 round.
Here are some recent, important funding rounds in CFO Stack companies in Belgium:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Seed | 4081 | May 27, 2025 | ||
Seed | 8302 | Sep 04, 2024 | ||
PE | 9059 | Jun 19, 2024 | ||
Seed | 9198 | 2023 | ||
Seed | 4462 | Mar 23, 2023 |
Top Investors in CFO Stack in Belgium
Europa is the top investor in CFO Stack companies in Belgium based on number of companies invested.
Here are some top investors in CFO Stack companies in Belgium:
Investor | Location | Top Portfolio Companies |
|---|---|---|
Sunnyvale (United States) | - | |
Brussels (Belgium) | ||
Singapore (Singapore) | - | |
Paris (France) | - |
M&A activity in CFO Stack sector in Belgium
In the year 2025, till November 2025, 1 acquisition happened in CFO Stack sector in Belgium. Last year, in 2024, a total of 1 acquisition happened in CFO Stack sector in Belgium.
Here are some recent, important acquisitions in CFO Stack sector in Belgium:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Business Acquisition | Nov 04, 2025 | ||
Business Acquisition | Apr 16, 2024 | ||
Business Acquisition | Apr 19, 2023 | ||
Business Acquisition | Dec 08, 2022 | ||
Business Acquisition | Aug 12, 2022 |
Acquisition trends in CFO Stack sector in Belgium
Here are the acquisition trends in CFO Stack sector in Belgium:
- Total Number of Acquisitions
Year | No. of companies |
|---|---|
2026 | - |
2025 | 1 |
2024 | 1 |
2023 | 1 |
2022 | 4 |
2021 | 1 |
2020 | 5 |
2019 | - |
2018 | - |
2017 | 5 |
IPOs in CFO Stack in Belgium
In the year 2020, till September 2020, 2 IPOs happened in CFO Stack sector in Belgium.
Here are some recent, important IPOs in CFO Stack sector in Belgium:
Company | IPO Date | Exchange Symbol |
|---|---|---|
Sep 25, 2020 | Euronext Exchange (Euronext), Frankfurt Stock Exchange (FRA) | |
Sep 22, 2020 | Euronext Exchange (Euronext) |
Colleges which produce the most CFO Stack companies in Belgium
Companies founded by alumni from top colleges in the CFO Stack in Belgium
Most number of CFO Stack startups in Belgium have been founded by alumni from Cornell University, Duke University and Harvard University.
College | No. of companies |
|---|---|
Cornell University | 1 |
Duke University | 1 |
Harvard University | 1 |
IIM Bangalore | 1 |
London School of Economics and Political Science | 1 |
Stanford University | 1 |
University of Oxford | 1 |
Total funding in CFO Stack companies founded by alumni from top colleges in Belgium
In the last 10 years, University of Oxford graduates' CFO Stack companies in Belgium have raised the most funding among top colleges. Harvard University and IIM Bangalore alumni are second.
College | Total Funding |
|---|---|
University of Oxford | $59.7M |
Harvard University | $12.9M |
IIM Bangalore | $12.9M |
London School of Economics and Political Science | $12.9M |
Cornell University | - |
Duke University | - |
Stanford University | - |
Top News in CFO Stack in Belgium
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Banqup partners with Rentio to offer rental guarantee accountsGlobeNewswire•Sep 25, 2025•Banqup, Rentio
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Banqup Group reports 21% organic subscription revenue growth in H1 2025GlobeNewswire•Aug 26, 2025•Banqup
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Banqup Group and iPiD Partner to Strengthen Payment Security and Tackle Invoice FraudFintech Finance•Jul 02, 2025•Banqup, iPiD
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Intix Confirms Further Canadian Expansion at Canada Payments SummitFintech Finance•May 22, 2024•Intix
