NovaUCD-based Assiduous nets €1m in funding round

Corporate finance service-as-a-software solution provider backed by EIT, Enterprise Ireland

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Pictured: Fergal Meegan and Barry Murphy, Assiduous, with Conor O’Donovan, Enterprise Ireland

Assiduous has raised €1 million in funding and announced the launch of the Corporate Finance Autopilot, a virtual corporate finance service-as-a-software solution. The oversubscribed round included support from EIT and Enterprise Ireland High-Potential Start-Up (HPSU) fund

Enabled by the latest AI advances the Corporate Finance Autopilot supports small and medium sized companies preparing for strategic, financing and liquidity transactions with a whole of lifecycle approach.

The company plans to expand its technical team, to take advantage of the latest advances in agentic AI and recruit exceptional product and engineering talent with a passion for applying AI to high value use cases.

Having recently completed the EU co-funded EIT Digital Open Innovation Factory 2024 programme, Assiduous established a strategic collaboration with Euronext Group to facilitate access for SMEs to Euronext markets earlier in their lifecycle. As a constituent of EIT Digital’s Equity Portfolio, Assiduous will benefit from continued support and access to stakeholders in the European innovation ecosystem.

Assiduous was founded by experienced investment bankers Fergal Meegan and Barry Murphy and is headquartered at NovaUCD in Dublin.

Fergal Meegan, CEO, Assiduous, said: “Businesses are at a pivotal moment in the application of technology to the provision of professional services. We are only scratching the surface with the value that can be created for business owners from leveraging AI to do more with less. Assiduous is focused on embedding corporate advisory domain expertise at the application layer to unlock the power of foundation models for many more small and medium sized business owners seeking to contemplate, plan and execute high value corporate actions.”

Conor O’Donovan, head of start-ups at Enterprise Ireland, said: “Assiduous is an excellent example of a forward-thinking Irish start-up that is using cutting-edge technology to address a massive unmet market need. The company’s growth plans aligns with Enterprise Ireland’s new five-year strategy Delivering for Ireland, Leading Globally, with a key objective to support and enable SMEs to engage with the start-up ecosystem, to execute financing and strategic transactions and to grow the next generation of Irish multinational corporations.”

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