Procuros

About Procuros

Procuros, a Hamburg-based technology company established in 2021, is addressing the complexities of B2B transactions by offering a digital integration platform. The company was founded by Patrick Thelen and Benjamin Wulff, who identified a market need to automate and streamline paper-based and manual transaction processes that hinder scalability for many businesses.

Thelen's background includes a Master's in Industrial Engineering & Operations Research from UC Berkeley and a period as a consultant at Boston Consulting Group, where he observed that companies globally faced similar challenges in automating B2B transaction processes. This insight, combined with his experience in sales engineering and R&D, fueled his entrepreneurial drive. Wulff, a software expert, brings extensive experience from his time at Airbus, where he was involved in digitalizing spare parts procurement, and as a co-founder and CTO of Gaia Nutrition, a startup acquired in 2021. His journey as an entrepreneur began before he was 18.

Procuros operates as a one-to-all platform that connects suppliers with their trade partners, automating the exchange of business documents like orders, invoices, and delivery notes. This is achieved through a single connection to the Procuros Integration Hub, which integrates with a company's existing ERP system within minutes. The platform is designed to handle various interfaces and technologies, including API, EDI, SFTP, and XML, effectively translating documents into a standard data model. This approach allows businesses to connect with partners regardless of their technical infrastructure, aiming to reduce manual data entry by up to 90%.

The company's business model involves a monthly basic fee plus a per-transaction charge, making it accessible for startups and scalable as their sales grow. Procuros serves a diverse client base, including companies in the Fast-Moving Consumer Goods (FMCG), industrial, and retail sectors. Notable clients include Bosch, Flaschenpost, and Reishunger.

Since its inception, Procuros has achieved significant financial milestones. After an initial pre-seed investment of €1 million in September 2021, the company secured $9 million in a seed funding round in April 2022. This round was led by Point Nine and Creandum, with participation from investors like Paua Ventures, btov, and notable angel investors.