Fintech startup Fluidly raises €5.7 million to automate cashflow management for SMEs

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One of the biggest financial problems that businesses face is cashflow management, and knowing their future financial position is of critical importance. Fluidly’s “Intelligent Cashflow” software uses machine learning and financial modelling to automate cashflow management and forecasting for SMEs, allowing them to make better financial decisions.

Based in London and founded in 2016, Fluidly has just raised a €5.7 million Series A funding round. New-York based Nyca Partners led the round with participation from other investors including Octopus Ventures, Anthemis and tech angels Simon Murdoch and Charlie Songhurst. The new funding will be used to expand the team of engineers and data scientists to further develop the product, and to build sales and marketing capacity.

Fluidly is a SaaS fintech platform that integrates with both cloud accounting packages and Open Banking APIs. Fluidly has grown rapidly since its launch, and is now working with nine of the top 20 UK accounting firms, reaching thousands of SMEs. 

Fluidly Founder and CEO Caroline Plumb said: “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. Cashflow forecasting and management is the key to financial decision-making – we’re on a mission to help millions of business owners sleep better at night by giving them control, certainty and confidence in their financial future.”