Startup Farseer Positions Itself as a Challenger to IBM, Oracle, and SAP

The Zagreb-based startup Farseer has plenty of reasons to be satisfied. Despite the fact that the company, which develops revolutionary software for financial planning in large enterprises, was founded during the pandemic, they have managed to acquire some of the largest regional companies as their clients. In less than two years since the company’s establishment, Farseer has positioned itself as one of the most significant ‘challengers’ to IBM, Oracle, and SAP in the domain of financial planning and analytics solutions.

During the two pandemic years, Farseer not only succeeded in developing a technically complex software product but also attracted serious global and regional companies as clients. Their software is used by one of the world’s largest manufacturers of luxury adult toys, the Swedish company Lelo, as well as domestic market veterans such as Violeta, Hrvatska Lutrija, Plinacro, Mazars, InterCapital, and others.

Although the company was founded at an extremely unfavorable time regarding the global economic situation, Farseer managed to raise an angel investment of 100,000 euros back in 2020, and by the end of 2022, it will become fully profitable. This startup has been growing at a rapid pace, evidenced by their monthly revenue growth rate of 25 percent in licensing over the last six months.

Farseer sells its software directly to clients but has also built a network of partners with whom they collaborate, led by the domestic Business Intelligence and Serbian M&I Systems. One of the latest collaborations that Farseer has achieved is with the group Končar, whose 14 companies will manage all their finances in Farseer.

The director and co-founder of Farseer is Matija Nakić, who before founding Farseer worked as the software director at Span and as VP of Products at the renowned New York-Zagreb software agency Five.