Nomerra raises USD $2 million to automate private markets

Berlin-based Nomerra has raised USD $2 million in a pre-seed funding round led by 14Peaks Capital.

Redstone Fintech also participated, alongside senior individuals from firms including KKR and Intapp, as the start-up sets out to tackle the manual operational work that still underpins much of the private markets industry.

Nomerra was founded by Johannes Gebendorfer and Jakob Zacherl, both former first employees at fund administrator bunch. Their experience there showed how heavily private market operations still rely on emails, PDFs, spreadsheets, and disconnected systems, even as the sector grows in size and complexity.

Private markets are projected to expand from USD $13 trillion to more than USD $30 trillion in the next few years, according to figures cited by Nomerra. Against that backdrop, many firms are struggling with a growing operational burden in areas including fund accounting, treasury, and transfer agency.

Operational strain

Nomerra focuses on asset servicers and asset managers, where much of the administrative process remains labour-intensive. The same data is often entered repeatedly across disconnected systems, while reporting demands, regulation, semi-liquid structures, evergreen funds, and expansion into new asset classes add to workloads.

The founders also point to a staffing squeeze. As private markets grow, firms are finding it harder to recruit and retain enough qualified people to manage the volume of work, particularly in accounting and operations roles.

Its software connects to systems firms already use, including enterprise resource planning platforms, banking systems, email, and document storage tools. It brings that information into a single layer, allowing software agents to process documents, extract data, compare information across sources, and complete tasks in line with a firm's operating procedures.

Users can assign work through familiar tools or set up background agents to run tasks continuously. The aim is to shift staff from preparing deliverables to reviewing them, with audit trails showing what was done, why it was done, and where the underlying data came from.

Founder background

Gebendorfer and Zacherl built Nomerra after helping scale bunch to more than 100 employees and expand across Europe. Bunch recently announced a Series B funding round and has raised more than USD $50 million in total.

The founders argue that private markets still lack many of the features that make public markets more efficient, including standardisation, interconnected systems, and streamlined record-keeping. That gap leaves firms exposed to a growing paperwork burden as capital continues to flow into the asset class.

Gebendorfer described the shift in operational models as a turning point for the sector.

"Think of how telephone operators used to connect one caller to another by plugging cables into a switchboard," said Johannes Gebendorfer, Co-founder and CEO 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."

Investor view

The round ranks among the larger fintech pre-seed financings this year, according to Nomerra. The company plans to use the money to expand its engineering team and support demand from asset servicers and managers in Europe and the United States.

For 14Peaks Capital, the investment reflects a view that broad AI tools are unlikely to be enough in an area of finance where workflows differ across firms and often rely on detailed procedures.

"This work demands trust, context, and the ability to follow each firm's own procedures," said Edoardo Ermotti, Founding General Partner at 14Peaks Capital. "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. 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. We're thrilled to put our network and experience behind them, to keep building a product this specialized and to get it into the market at scale."