We’re delighted to announce a successful £5m Series A funding round led by New York-based Nyca Partners! We’ve also been supported by Octopus Ventures, Anthemis and technology investors Simon Murdoch and Charlie Songhurst.
Bruce Wallace is welcomed to our board and we are really looking forward to working with him. Bruce is the former COO and Chief Digital Officer of Silicon Valley Bank and brings a wealth of banking, finance and fintech experience. He’s also on the board of London-based fintech Revolut.
Since Fluidly launched in October 2017, we have had an incredible year of growth. We’ve gone from having no customers whatsoever to connecting with thousands of businesses, and developed close partnerships with accounting firms big and small.
We’ve built solid foundations to realise our vision of creating a new category: Intelligent Cashflow. For too long, business finance has been retrospective and reactive. Intelligent Cashflow is about using the wealth of data available to businesses to predict and optimise the financial future quickly and intuitively.
Accounting software records the past. Fluidly secures the financial future.
A typical small business has thousands and thousands of financial transactions – far too many for any human to keep an eye on. Fluidly creates a data layer that sits on top of a cloud accounting or banking stack and uses Artificial Intelligence and Machine Learning to automatically look into the financial future and spot cashflow trends, issues or opportunities.
And we know this really matters. Managing cashflow is the number one reason why small businesses fail (not to mention the biggest cause of stress with more than one-third of business owners saying they lose sleep over it). We’re on a mission to help them sleep better at night by providing control, certainty and confidence around finances. Helping them get paid faster, save time and money, plus take actions on the upcoming issues that matter.
We’ll be using the funding to significantly expand our team, particularly in product, engineering and data science to realise our vision even faster. (See our open roles here!). Expect to see a wealth of new features in the platform over the coming 12 months – we have a vast amount on on the roadmap that we will be delivering at pace.
We are also growing our sales, marketing and customer success teams so we can work even more closely with accounting partners, lenders and small businesses to improve the financial future.
Fluidly is very much a team effort. We’re so grateful to our customers, partners, team and investors that have supported us this far, and we’re looking forward to working with existing supporters and new friends as we continue on our mission to help business owners sleep soundly.
“We are thrilled to have joined Fluidly on their journey as they grow into a major AI/ ML player in the financial technology industry. Cashflow management for SMEs is an area that is long overdue for the kind of innovation that Fluidly is providing, and we look forward to supporting them as they focus on new product development and expansion of their impressive customer base.”
Hans Morris, Managing Partner at Nyca.