SmartCompany covers RedOwl’s $5.3 million seed round

SmartCompany reports that Melbourne-based RedOwl has raised a $5.3 million seed round, led by Tidal Ventures with participation from existing investor CP Ventures. The coverage reports a valuation of $38.4 million.

Founded by Jitto Arulampalam and Thushan Shanmugarajah, RedOwl helps accounting and finance teams check whether what was agreed, delivered, billed and paid matches contract terms, policies and commercial rules. SmartCompany highlights the platform’s role in identifying financial leakage and making governance clearer for finance teams.

The article also covers RedOwl’s partnership with Mastercard through its Start Path program and reports that its customers include Aussie Broadband and Vicinity Centres.

RedOwl intends to use the funding to expand its customer base and further develop its technical platform.

Read the original article, Three ANZ startups that raised $20.3 million this week, on SmartCompany.