Latest Outmin funding round to accelerate product innovation for accounting firms as industry veteran Feargal O’Rourke joins its board.
Outmin, an Irish intelligent bookkeeping start-up that automates financial data production and eliminates manual data entry, has raised €4m in a funding round led by Praetura Ventures.
The funding came via the Praetura EIS Growth Fund and NPIF II – Praetura Equity Finance, which is managed by Praetura as part of the Northern Powerhouse Investment Fund II.
“It will enable us to continue our growth in Ireland and expand our presence in the UK, especially in the North West which is a hotbed of activity”
Outmin also confirmed the appointment of Feargal O’Rourke, current IDA chair and former managing partner of PwC Ireland, as chair of the board.
A real system change for businesses
The funding will enable Outmin to accelerate engineering hires, deepen AI capabilities, and scale delivery for a growing base of accounting firm partners.
The company is focused on margin improvement, efficiency, and modernising the core bookkeeping model for accounting firms.
Additionally, the investment will help Outmin broaden its international reach, particularly in the North West of England, where it already has an emerging presence.
“This funding marks an exciting new phase for Outmin,” said Ross Hunt, CEO and co-founder of Outmin. “It will enable us to continue our growth in Ireland and expand our presence in the UK, especially in the North West which is a hotbed of activity.
“It’s about delivering a real system that changes how firms operate. With Feargal’s experience and leadership, we’re more equipped than ever to bring automated bookkeeping to more businesses and help accounting firms navigate the future of bookkeeping and finance.”
O’Rourke brings decades of experience at the forefront of the global accounting profession. His appointment signals Outmin’s commitment to addressing long-standing industry challenges, including talent shortages, inefficiencies, and succession risks.
“Outmin is building something accounting firms truly need,” said O’Rourke. “It’s not a short-term fix, it’s a foundational shift. The team understands where the gaps are in the current model, and they’re delivering a system that helps firms scale and focus their people on higher-value work.”
Outmin’s AI Bookkeeper automates key financial workflows, including document collection, invoice processing, reconciliation, and reporting. It combines automation with expert oversight to deliver accurate, up-to-date books without increasing headcount.
According to the company, more than 350 businesses currently use the platform, and Outmin has established partnerships with 11 accounting practices.
Businesses report saving more than 200 hours annually on bookkeeping, while some partner firms report as much as €10,000 in additional revenue per client onboarded to Outmin by reallocating existing staff to higher-value tasks.
“Every accounting firm is facing pressure to do more with less,” said David Kelleher, co-founder and chief revenue officer at Outmin. “The future belongs to firms that invest in better systems, not just people. We’re already partnered with forward-thinking firms like Nexio, who are providing valuable insights to help us optimise our product and create something that gives accounting practices a real competitive advantage.”
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