Benford, a technology-led financial audit company headquartered in London with operations in Oslo, has raised €5 million in pre-seed funding. The round was led by firstminute capital, with participation from Global Founders Capital and Sondo. Individual backers included Peter ter Maaten of HSO, Arthur Waller and Quentin de Metz of Pennylane, Alexandre Prot of Qonto, and the Spandow family associated with Amesto.
Founded by Mads Bogen Øye, Thibault Mallion and Andreas Rystad, Benford is building a technology-native statutory audit business rather than offering audit software as a standalone product. Its proprietary AuditOS system connects with company systems and supports data collection and evidence gathering across the audit process, while qualified auditors retain responsibility for professional judgement and signing the audit opinion.
Benford currently provides statutory audit services in Norway through Benford Revisjon AS. The company states that the entity is authorised by Norway’s Finanstilsynet, while Benford also maintains teams and offices in London and Oslo.
The company plans to use the new capital to expand its London and Oslo operations, hire across audit and engineering, enter Sweden, and pursue expansion into additional European markets.
