Fluidly, a FinTech startup seeking to change the way in which SMEs manage their cashflow, has closed a £2m Seed round.
The London-based company, which was one of the 20 winners at Nesta’s Challenge Prize on Open Banking earlier this year, also drew investment from Anthemis; New York-based Nyca; and Hank Vigil, an angel investor.
Founded last year by serial entrepreneur Caroline Plumb OBE, Fluidly leverages AI and machine learning to help small firms gain better control of their forecasting and cashflow management.
“After running businesses for over 15 years I know one of the most time-consuming and stressful aspects is forecasting and managing cashflow, most of which is highly manual and uncertain. Fluidly is about helping businesses sleep more soundly by getting them paid faster and providing certainty and peace of mind over finances.”
Will Gibbs, investment manager at lead investor Octopus Ventures, explained why he decided to invest in the firm.
“We see SMEs succeed or fail as a result of cashflow management, and Fluidly provides the tools to address this significant pain point. The implementation of the second Payment Services Directive next year will unlock innovation in the payments sector, and Caroline and the Fluidly team are capable of leading the way in this space for UK FinTech.”
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