Fintech startup Benford has secured €5 million in a pre-seed funding round. The investment was led by firstminute capital, Global Founders Capital, and Sondo. Additional backing came from industry figures including the founders of Pennylane, Qonto, and HSO, as well as the Spandow family.
The company operates as a registered audit firm in Norway, utilizing its proprietary AuditOS platform. Unlike traditional firms that purchase third-party software, Benford integrates its own technology to automate routine audit tasks while retaining human oversight for final judgements and signing opinions.
Founded by Mads Bogen Øye, Thibault Mallion, and Andreas Rystad, the firm aims to address the lack of modernization in the small and mid-market audit sector. The platform connects directly to client ERP systems, banks, and subledgers to create a centralized audit environment.
The new capital will be used to expand operations in the London and Oslo offices. Furthermore, the company plans to enter the Swedish market and scale its presence across Europe by hiring additional staff in both engineering and audit departments.
