Cashflow controller Fluidly gets $5m funding flow
Fluidly, a London-based fintech start-up providing cashflow solutions for SMEs, has completed a £5 million Series A funding round led by NY-based, Nyca Partners.
Other participating investors included Octopus Ventures, Anthemis and tech angels Simon Murdoch and Charlie Songhurst.
Fluidly’s Software-as-a-Service “intelligent cashflow” solution can be integrated with cloud accounting packages and APIs.
The new funding will be used to expand the team of engineers and data scientists working to advance the product, and also to build sales and marketing capacity.
Fluidly says that cashflow management is the single biggest financial pain-point that businesses face, so it uses machine learning to predict and optimise the future cashflows for SMEs and provides the key to financial decision-making.
Founder and CEO Caroline Plumb says: “It has been an incredibly exciting year for Fluidly. We have experienced a phenomenal period of growth and this latest investment will enable us to scale the business even further.”
The firm launched a year ago, and it says it is now working with nine of the top 20 UK accounting firms to reach thousands of SME end users.
