Cash flow management is the primary reason why SMBs go out of business. Business owners and financial professionals still rely on a burdensome system of financial tools to manage money transferred in and out. For SMBs outside the SaaS and e-commerce payment systems, the challenges are particularly significant.
This is why we are excited to back Mimo – which stands for ‘Money In, Money Out’ – a platform simplifying global payments, cash flow, and financial management for SMBs and finance professionals.
Founded in 2023 by CEO Henrik Grim (former General Manager of Europe at Capchase and Investment Manager at Northzone), Alexander Gernandt Segerby (CPO), and Andreas Meisingseth (CTO), the London and Stockholm-based company provides a suite of financial tools that bundles the features needed for SMBs to better understand and control their cash flow.
Mimo gives businesses, accountants, and bookkeepers a single tool for easier administration and better financial decisions. The platform’s credit offering helps minimise risk and optimise working capital, enabling businesses to send and receive payments on their own terms. Trading SMBs and finance professionals can pay suppliers with a click, access working capital, and get paid faster by customers, in any currency.
For businesses that hold inventory or trade internationally (e.g. those in consumer goods, retail, hospitality, or wholesale) and require a substantial number of invoices and multi-currency management, Mimo’s financial management solution solves the painstaking, time-consuming issues that are synonymous with these sectors.
Mimo already works with 50+ SMBs and finance professionals and processes several million GBP every month via its early access offering.
Henrik Grim, co-founder and CEO of Mimo, comments:
“I’ve seen first-hand the time-consuming and fragmented processes SMBs must deal with when managing money. SMBs and financial professionals have to jump between apps and spreadsheets to pay invoices or make and chase international payments, all while trying to keep track of and manage cash flow. Mimo bundles this into a single tool so that businesses can easily manage the movement of their money and receive payments in any currency, faster. We’re delighted to be backed by our investors to help give SMBs full control of their finances.”
On why we invested, our Partner Sia Houchangnia comments:
“We’re seeing a step-change in how SMBs are equipping themselves with technology to become more astute and proactively-minded businesses. From their work at iZettle, Hedvig, and Capchase, Henrik, Alex, and Andreas are deeply entrenched into the financial management needs of SMBs which they are now solving for with Mimo. We are thrilled to partner with them on this journey.”
We are excited to participate in Mimo’s £15.5M (€18M) funding round led by our friends at Northzone and joined by Cocoa Ventures, Upfin VC. The round also includes an asset-backed facility arranged by Fost and participation from angel investors including founders and early operators from Stripe, GoCardless, Wayflyer, and Anyfin.
Mimo aims to continue to build out its B2B payments solution for SMBs and expand its headcount which now includes 14 employees, of five nationalities, across the company’s two locations.
For more information, visit mimohq.com.
From our own experience investing in many startups building in financial services, we know only too well that ongoing due diligence (ODD) tends to be a manual and inefficient process, even more so for companies that must adhere to rules and laws across different markets. Fortunately, some new approaches and solutions go beyond seeing ongoing due diligence as a mere cost center. They enable compliance professionals to use ODD for regulatory purposes and also to scale their businesses into commercial success.
This is why we are excited to back spektr‘s mission to change ongoing due diligence processes in the financial sector. The Copenhagen-based fintech is founded by a team of experienced serial entrepreneurs, including CEO Mikkel Skarnager, Ciprian Florescu, Jérémy Joly, and Jan-Erik Wagner. We are especially delighted to be working with Mikkel and Cip again, having backed their first startup HelloFlow in 2021 (sold to Canadian company Trulioo in 2022). They’ve assembled a dream team that spent years building simple, easy-to-use, solutions to complex problems at HelloFlow and subsequently Truiloo. We firmly believe they have the ideal combination of skills and experience to build a market-defining company with spektr.
Spektr’s customizable, no-code platform offers financial companies an automated solution for client monitoring and risk control while completely automating all parts of the ongoing due diligence cycle. Recognizing the exponential growth of the compliance field globally, spektr aims to simplify risk-based monitoring with an automation-focused platform that does not require specialised IT skills for the user.
Spektr’s four main solutions provide the ability to:
These solutions help customers:
Co-founder and CEO Mikkel Skarnager highlights:
“With the spektr platform, we can make ongoing due diligence an efficient function with commercial value for companies rather than being a costly expense. When looking at the explosion in the number of employees and expenses, I am convinced that there is great potential in making compliance a better business.
“We’re off to an incredible start, thanks to both the platform and the generous support from our investors. This journey brings back memories of our success with HelloFlow, but this time, we’re aiming for something even bigger and long-lasting.”
On why we invested, our Partner Tom Wilson comments:
“We’re delighted to have the opportunity to back Mikkel and Ciprian as they go again with spektr. The HelloFlow journey gave us a taste of the market-leading products they can build and we’re excited to see where they can take spektr, building on that experience.”
We are excited to participate in spektr’s € 5 million round, alongside our friends at Northzone and PreSeed Ventures.
For more information, visit spektr.com.
With a multi-trillion dollar valuation, the global Real Estate industry has been slow in embracing digital transformation. It remains one of the most document-heavy and data-filled industries, with enormous potential for automation and talent upskilling.
This is why we are excited to back Fifth Dimension AI, a London-based startup on a mission to amplify the exceptional in real estate professionals. Coming out of a pilot phase, the company launched its flagship product Ellie, a first of its kind AI co-partner developed to improve productivity and amplify exceptional teams in industries that deal with a lot of documents and data. It automates time-consuming tasks such as data analysis and industry research, thus freeing people up to focus on bringing value to their business and fully using their expertise and insights.
Founded in January 2023 by Johnny Morris and Dr. Kate Jarvis, Fifth Dimension AI leverages their wealth of expertise across real estate, finance, and technology. Dr. Kate Jarvis, a large language model wizard with a PhD in Linguistics from Stanford University, has spent over a decade designing Machine Learning-powered products and bringing them to market. Johnny Morris brings more than a decade of real estate experience, in roles such as Chief Operating Officer at Wayhome and Analytics Director at Countrywide. The founders believe that Large Language Models (LLMs) can unlock the exceptional in people, taking away the time-consuming and often boring task of reviewing large quantities of information locked away in disparate documents, and instead producing outputs in a fraction of the time.
Dr. Kate Jarvis, Co-Founder & CEO of Fifth Dimension AI, comments, “This investment is a testament to the recognition of Ellie’s ability to redefine the world of work beginning with the real estate industry. We solve the issue of lifting employees out of time-consuming, repetitive and boring work, working with natural language that is designed to ensure people from all backgrounds can use it in the way that is most productive for them. Ellie empowers knowledge workers to do their best work and lead happier, purposeful, and more fulfilled lives.”
Johnny Morris, Co-Founder & CPO, Fifth Dimension AI, adds, “We designed Ellie to provide real estate professionals with a competitive advantage by providing a partner to help them get done in minutes what usually takes hours. Across our clients, we’ve been amazed by the impact that Ellie has on the newest generation of real estate professionals. These young and ambitious individuals are able to increase their output and amplify their expertise in the industry – in a fraction of the time. With Ellie as their partner, we believe the next generation will have the power to truly move the industry forward.”
Following the completion of an initial pilot scheme running since April, Fifth Dimension AI already boasts nearly 10 major real estate firms as clients, including big names such as Hamptons.
On why we invested in Fifth Dimension AI, our Managing Partner Carlos Espinal comments:
“With their wealth of expertise across AI, Real Estate, and Finance, Johnny Morris and Dr. Kate Jarvis are a world-class founding team taking on a massive opportunity to innovate the real estate industry. We love their emphasis on the human element, i.e. enabling real estate professionals to fully leverage their talent and knowledge, and thus focus on high-impact activities that create more business value.“
We are excited to co-lead Fifth Dimension AI’s £2.3 Million pre-seed alongside Anthemis’ Female Innovators Lab Fund, with support from Ascension Ventures Ltd, Concrete VC, Love Ventures, Twin Path Ventures, and Sie Ventures. With the new funds the company aims to scale the business’ sales and marketing functions and focus on product development to enhance the tool’s capabilities for an expanding audience across the real estate industry
For more information visit fifthdimensionai.com.
To successfully navigate today’s uncertain macroeconomic climate, companies of all sizes need real-time visibility and management of their financials and cash flow. Even more so, SMEs, who constitute the backbone of the economy and need to be financially resilient and self-reliant.
This is why we are excited to back Trezy, a Franco-Dutch fintech that provides an AI-driven suite of real-time financial forecasting tools for SMEs. The platform, based on 14 million accounting entries and two million cash transactions, simplifies financial management and supports business owners in overcoming challenges, allowing them to thrive in today’s competitive business landscape.
Founded in 2020 by Quentin Lacointa and Pierre Houdyer, Trezy aims to help 10 million small business owners around the world steer their companies toward success by making automated financial predictions and insights available and understandable regardless of financial literacy.
Currently present in France, the Netherlands, and the UK, Trezy provides real-time financial performance insights, predominantly through smart AI-based classification of bank transactions, receipts, and invoices. Engineered to be a balance of detail and abstraction, combining bank transaction data with accounting data, it provides financial analysis and financial health predictions.
“Smart Forecasts,” Trezy’s predictive tool, allows business owners to automatically project cash flow into the future. The automated onboarding enables new users to see their historical and future cash flows within 30 seconds.
Quentin Lacointa, Co-Founder and CEO at Trezy, emphasizes:
“69% of SME owners say they lose sleep at night because they worry about their cash flow. It’s their number one concern and with good reason. With inflation reducing margins, economic conditions hitting growth and financial processes becoming increasingly complicated there is a huge burden on SMEs. Our goal is to support business owners by giving them easy to access, real time financial insights that will help them to manage their cash flow and, regardless of their financial literacy, make better decisions.
“Accountancy software has really helped with day-to-day admin and compliance, but it doesn’t provide intelligent support for financial decision making. This is where Trezy comes in and with this funding we will be able to further develop our platform to help thousands of SMEs across Europe.”
To further automate the administrative tasks of data analysis and the presentation of insights, and especially to empower business owners to go from business questions to meaningful action more quickly, Trezy is currently working on leveraging generative AI technology.
On why we invested, our Principal Felix Martinez comments:
“Quentin and Pierre’s experiences as bootstrapped founders and operators give them an edge in going to market, which stood out to us. Their cutting-edge technology that automates the enrichment and categorisation of bank transactions sets them apart in the financial management landscape. Bank transactions, being the main source of financial data today, often lack crucial information for actionable insights.”
We are excited to co-lead Trezy’s Seed round of €3 million with Playfair, joined by Kima Ventures and Discovery Ventures.
Trezy plans to use the funding to support the growth of its customer base to 10,000 small businesses by the end of 2024, expand its product offering to include features such as generative-AI-enabled automation, and grow its teams in the Netherlands, France, and the UK.
Plant-based foods are becoming a key part of a more sustainable and ethical food chain. In recent years, consumer demand has increased significantly but so have their expectations for taste, texture, and nutritional value. Especially for alternative, dairy-free products, consumers are looking for high-quality, flavourful options.
This is why we are excited to double down on our investment in JULIENNE BRUNO.
Founded by Axel Katalan (previously concept developer for Alan Yau MBE and Co-Founder of deep location tech brand Pointr), a food lover passionate about recreating the boundless eating experiences one usually has with dairy and meat options, JULIENNE BRUNO offers a different perspective on plant-based food, creating familiar but new products for people to enjoy due to the quality of them, not because they’re vegan.
Since we first met Axel and the team and invested in early 2021, the creative food developer and producer has successfully developed “Collection 01,” a dairy-free experience consisting of three products: Burrella, Crematta, and Superstraccia. Inspired by classics, each product has been given an easily recognisable name yet allowing it to establish its own identity, making the vegan prefix obsolete – aligned with the brand’s belief in the power of both taste and the language used to describe food.
Axel Katalan, Founder of JULIENNE BRUNO, highlights:
“I’d like to take this opportunity to give a warm welcome to everyone who is just hearing about us for the first time. We are one heart and many hands. Always curious and always hungry. The kitchen is our creative workshop and hospitality is our culture. Now, let’s sit & eat.”
The JULIENNE BRUNO team has grown to 16 employees with an entire production space in a London warehouse. Built from scratch, the HQ oversees the whole process from start to finish, including goods in, production, storage, and dispatch. The sourcing, processing, packing, and shipping of all of the products take place under one roof – ‘Kitchen 01’.
The team behind the brand includes Head of Product Development Albert Adria (a gastronomer with multiple Michelin Star awards, previously Head of Creativity at El Bulli, Founder Tickets Restaurant, Hoja Santa and Enigma), Head of Food Chi San (previously Head of Food for Alan Yau Projects, starting with Head Chef at Wagamama (1992) and following through to all projects such as Hakkasan, Busaba etc), Chief Commercial Officer Sunjiv Shah (previously General Manager of Uber Eats UK & Ireland and part of the founding team) and Board Advisor Alan Yau MBE (renowned for founding numerous ventures in gastronomy such as Hakkasan, Wagamama, Busaba Eathai and Park Chinois).
JULIENNE BRUNO products are available online at juliennebruno.com, in-store in the Foodhall at Selfridges London, and on the menu at select restaurants in London, such as the Big Mamma Group. The brand will also be launching in 45 Holland & Barrett stores nationwide and in 7 Whole Foods Market stores early this month.
On why we invested, our Managing Partner Carlos Espinal comments:
“JULIENNE BRUNO’s “Collection 01” is not only a more sustainable and ethical alternative to dairy products but also tastes even better! Axel and his team are elevating the plant-based food experience without compromising on taste, texture, or nutritional value!”
We are thrilled to participate in the recent funding round led by Cherry Ventures, with participation from Outsized Ventures and Nicoya. The fresh funds will fuel the expansion of the brand and its larger vision for transforming the food industry. It will also support the partnerships with nationwide retailers, Selfridges London, Holland & Barrett, and Whole Foods Market, the expansion of the team, and the creation of the sweet side of ‘Collection 01’.
To get a real taste of the JULIENNE BRUNO experience, visit/place an order juliennebruno.com.
To learn more about our growing portfolio in the sustainability space, read The Future of Sustainability, and the Tech Companies out to Improve it.
What an incredible week.
Seedcamp set out in 2007 to help build a cohesive network which promising entrepreneurs could leverage and tap into to build great businesses that as Fred Wilson said yesterday, adopt the Silicon Valley mindset and “go for it”.
This year, we’ve hosted 22 stellar teams in the time zone between London and Amman. They’ve been mentored by 350 world-class advisors. The quality of teams just keeps improving and as the Seedcamp network grows, the capacity to build great companies keeps improving.
So, without further ado – we’re thrilled to announce this years Seedcamp Week 2009 winners (in alphabetical order):
• Boxed Ice (Birmingham, UK – Server monitoring for all website owners.
• Brainient (Bucharest, Romania) – Helping video publishers monetize on the increasingly growing video content.
• Codility (Warsaw, Poland) – First line of testing of programmers, saving employers a time and money.
• Erply (Tallinn, Estonia) – ERP on the web. Comprehensive CRM, accounting, billing and inventory management for SMEs.
• Patients Know Best (Cambridge, UK) – Revolutionizing how patients ineract with doctors as a start to better provided care.
• Talasim.com (Amman, Jordan) – The Comedy Channel of the Middle East, providing a space for self-expression and sharing humour.
These teams will all receive a €50k investment from Seedcamp and active support over the next 3 months to help develop these companies into world-beaters.
All 22 teams demonstrated outstanding performance and growth throughout the week. They listened to the wisdom of serial entrepreneurs like Hjalmar Winbladh and Brent Hoberman about the rollercoaster of startups, learned about pivoting and continuous deployment from Eric Reis, product/market fit from Sean Ellis, how to swear (and something about metrics!) from Dave McClure and to fail fast, think big and build great businesses from Fred Wilson. On the way they had practical advice from the great successes of the tech world like Google, Yahoo, last.fm, Twitter, Microsoft, eBay and Skype.
What impressed us the most was how the teams processed this torrent of feedback and evolved not just their pitch but their business and thinking between Monday’s and Thursday’s presentations. Shortening the loop between listening and learning is so critical to sustainable startup success and every team showed they had this in spades.
Seedcamp is not a one-week event and most of the teams in London this week were folks we’d met at one of the 7 Mini Seedcamp’s we ran this year. Building this localized network is core to our vision and we want to take this chance to call out Kwaga (Paris, France) and Platago (Vienna, Austria), both of whom Seedcamp has invested in this year from our Mini Seedcamps in Paris and Berlin.
We’ve always believed the start-up world doesn’t revolve around one location but we love the Valley. Last year, we went out West with the Seedcamp alumni and this cycle we’ll be going on the road again, this time taking in New York as well as San Francisco. Immersing yourself in the US market is something we always advise to startups – learn, make contacts and then go back home and code ☺
So joining us on this year’s Seedcamp on the Road, we are also inviting these talented tourists:
• Advertag (London, UK) – Advertag extracts data and creates tag cloud based on the advert.
• Fabricly (London, UK) – A web-based solution for fashion labels to manage their supply chain.
• Pearl Systems (Bristol, UK) – A web-based solution for SMEs to customize billing, CRM, accounting, business improvement software.
• Joobili (Budapest, Hungary) – A travel website offering inspiration specific to your dates and interests. You say when, Joobili says where.
• VouChaCha (London, UK) – A location based mobile discounts for consumers. A usable platform for brands to engage with their customers.
Finally, we’d like to thank everyone who contributed to this year’s Seedcamp Week including all the amazing mentors, Seedcamp investors, Tim Barnes from UCL for being an awesome host and our numerous Seedcamp supporters – without whom, we could not function.
Thanks again to the teams for converging on London for the week where we hope your experience was life changing and you continue to grow, network and emerge as successful entrepreneurs.
Please keep in touch and come see us at one of our Mini Seedcamps over the next 12 months and check out our video blog for day 5 highlights.
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