---
title: Berlin Fintech Nomerra Raises $2M to Automate Fund Administration With AI Agents
description: Berlin fintech Nomerra has raised $2M to automate fund administration with AI agents, taking on former employer bunch in private markets' back office.
author: Darie Nani (Editor-in-Chief)
date: 2026-06-30T10:54:57.028Z
updated: 2026-06-30T10:54:57.046Z
canonical: https://www.sovereignmagazine.com/article/nomerra-raises-2m-ai-fund-administration
image: https://cdn.nanimediahouse.com/nomerra-founders-hero.webp
categories: FinTech, Artificial Intelligence, Startups
content_type: Spotlight
region: Berlin, Germany
publication: Sovereign Magazine
about:
  - type: Organization
    name: Nomerra
    description: Berlin-based fintech building AI agents that automate fund administration, fund accounting, treasury and transfer-agency work for private markets. Founded 2025 by Johannes Gebendorfer and Jakob Zacherl.
    url: https://nomerra.com
    industry: Financial software
---

Two of the earliest employees at bunch, a Berlin startup that raised a $35 million Series B in May to modernise private markets, have left to build a competitor. Their new company, Nomerra, has raised $2 million to automate the same back-office work, and it is betting that autonomous software agents will do the job better than the tools already on sale.

Nomerra, also based in Berlin, sells software for fund administration: the accounting, treasury and transfer-agency work that runs behind private investment funds. Founders Johannes Gebendorfer and Jakob Zacherl came from bunch, where they helped scale a tech-enabled fund administrator to more than 100 people across Europe. They left to start a company that does a narrower thing with more automation.

The pre-seed round was led by 14Peaks Capital, with Redstone Fintech and angel investors from KKR and Intapp. The company calls it one of the larger fintech pre-seed rounds of the year. Nomerra is about six months old and already has a dozen design partners, each running more than $10 billion in assets, according to the company.

## Why Fund Administration Is Running Short of People

Private markets are expanding fast. They stand at roughly $13 trillion today and, on industry projections that Nomerra cites, could double within a few years as money keeps moving out of public markets and into private equity, private credit and infrastructure.

The work that supports those funds has not kept pace. Much of it still runs through email, PDFs, spreadsheets and systems that do not talk to each other, with the same figures retyped by hand from one to the next. Reporting has grown more frequent, regulation tighter, and fund structures more complicated, all of which adds to the load. The standard answer has been to hire more people, but the people are getting harder to find. Nomerra says the number of qualified fund accountants has fallen by about a third over the past decade. The broader picture supports the direction, if not the exact figure: [the accounting profession has been shrinking for years](https://www.sovereignmagazine.com/article/black-ore-tax-autopilot-launch), with fewer graduates entering it and a steady stream of qualified staff leaving.

The gap between rising volume and falling headcount is the case for automation. It is also the case bunch makes, and so do several other firms.

## How Nomerra's AI Agents Handle Fund Accounting

Nomerra's pitch is that its software [sits on top of the systems a firm already uses rather than replacing them](https://www.sovereignmagazine.com/article/zalos-agentic-ai-finance-seed-round). Its agents connect to a firm's accounting platforms, banking systems, email and document storage, pull the relevant information into one place, and then run a process the way a trained member of staff would: reading a document, extracting the right figures, checking them across sources and producing an output. Staff hand work to the agents through tools they already use, or set up agents that run in the background.

The aim, the company says, is to move people from preparing work to checking it. Each task comes with an audit trail recording what was done, why, and where the data came from. Over time, Nomerra expects even the review to become lighter, with teams overseeing groups of agents that produce whole deliverables on their own.

> "In a few years, people will look back and wonder how any of this was ever done by hand."
> — Johannes Gebendorfer, Nomerra

"Think of how telephone operators used to connect one caller to another by plugging cables into a switchboard," said Johannes Gebendorfer, co-founder and chief executive of Nomerra. "Today, the idea that humans once routed every phone call manually seems absurd. Private market operations are at the same turning point. In a few years, people will look back and wonder how any of this was ever done by hand."

## Who Backed the Round

14Peaks Capital is a Swiss business-software investor founded by Edoardo Ermotti, son of UBS chief executive Sergio Ermotti. The firm backs early-stage fintech and B2B companies across Europe and the United States, and has put money into startups including Zocks and Model ML. Redstone, the other institutional backer, is a Berlin venture firm with sector-specific funds and more than 200 companies in its portfolio.

"Generic AI tools can only go so far in an environment this complex; Nomerra was built from the ground up for the depth private markets require," said Edoardo Ermotti, founding general partner of 14Peaks Capital. "Johannes and Jakob lived this problem before they set out to solve it, and that vertical focus is already proving to be a distribution edge."

## Who Nomerra Competes With in Private Markets

Nomerra is entering a busy market. bunch, the company the founders left, markets itself in almost the same words, and it now has a $35 million Series B and a head start. FundGuard, which builds AI software for investment accounting, has raised about $100 million. Canoe Intelligence extracts data from fund documents for the investors on the other side of these funds. Incumbents such as Carta, Allvue and Juniper Square run [the platforms many firms already sit on](https://www.sovereignmagazine.com/article/finance-chiefs-spent-millions-on-erps-they-hate-maximor-s-ai-is-now-fixing-that-without-start-2), and most are adding AI of their own.

Nomerra's argument for being different is that it automates the whole process end to end and runs on top of a firm's existing software, rather than feeding a human or asking the firm to migrate onto a new system. Whether that distinction holds as the larger, better-funded players add agents of their own is the open question. For now the company plans to use the money to grow its engineering team and meet demand from asset servicers and managers in Europe and the United States.

Nomerra is online at [nomerra.com](https://nomerra.com/).

**About Nomerra**

Berlin-based fintech building AI agents that automate fund administration, fund accounting, treasury and transfer-agency work for private markets. Founded 2025 by Johannes Gebendorfer and Jakob Zacherl.

[Website](https://nomerra.com)

## FAQ

**Q: What does a fund administrator do?**
A fund administrator handles the back-office work behind an investment fund: keeping the books, calculating the fund's value, processing payments and investor records, and producing the reports investors and regulators require. It is the work Nomerra is trying to automate.

**Q: What is the difference between a fund manager and a fund administrator?**
The fund manager decides what the fund invests in and is responsible for its performance. The fund administrator records and reports on those decisions, handling the accounting and operational work that keeps the fund running. Nomerra sells to the administration side.

**Q: What is the role of the back office in private equity?**
The back office handles fund accounting, treasury, investor reporting and compliance. It does not pick investments, but a private equity firm cannot operate without it. As funds grow more numerous and complex, that work has become harder to staff, which is the gap Nomerra is targeting.

**Q: How is AI changing fund administration?**
Most fund administration still runs on manual data entry across disconnected systems. Software firms are now applying AI to read documents, extract figures and run repetitive processes automatically. Nomerra's approach uses agents that complete tasks end to end and present the result for a person to review, rather than tools that only assist a human doing the work by hand.