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Cointab automates complex financial reconciliation for businesses

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Date
Company
Cointab
What it does
Reconciliation automation platform for finance
Kind
News
Sector
Financial Services

What they do

Cointab provides an automated platform that matches internal financial records against external reports like bank statements and payment gateway data for…

What happened

The company offers pre-built templates for e-commerce and retail reconciliation while providing a custom builder for complex, multi-party matching logic and…

Why it matters

The platform uses AI to assist with exception analysis and unstructured data, ensuring all automated outputs remain audit-friendly and transparent for…

The details

  • Cointab provides a reconciliation automation platform designed to match internal financial records with external reports.
  • The system supports two-way and three-way reconciliation between sources like bank statements, ERP systems, and payment gateways.
  • Users can utilize a custom reconciliation builder to configure specific business rules, matching logic, and data columns.
  • An AI-powered engine helps users create formulas, process unstructured transaction data, and identify reasons for unresolved discrepancies.
  • The platform automates recurring tasks including data inputs, reconciliation runs, and the delivery of reports via email or API.
  • All AI-generated outputs remain audit-friendly, allowing finance teams to review, filter, or manually adjust results as needed.

The bigger picture

  • The founding team previously developed a P2P payments app that served over one million registered users.
  • The company was born out of the team's direct experience with the reconciliation pain points encountered while managing high-volume payment systems.
  • The product philosophy emphasizes that reconciliation workflows should be reusable rather than rebuilt during every accounting period.

About the business

  • Cointab serves diverse sectors including e-commerce, D2C, retail, travel, and logistics.
  • The platform is designed for finance and accounting teams as well as accounting service providers.
  • It handles complex matching scenarios such as one-to-many, many-to-many, and partial matches.
  • The software manages net settlements and contra entries to ensure financial accuracy.
  • The Belgian Waffle Co uses the platform to reconcile orders and payments across platforms like Swiggy and Zomato.
  • Pre-built templates cover integrations for Amazon, Flipkart, Myntra, and DoorDash.

The deal

Type
other

Founders

  • Vinit Maniar, CEO
  • Gaurav Bansal, CTO
  • Arul Sundarraj, VP Engineering

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