Fluidly is a London-based fintech offering ‘Intelligent Cashflow’ software that uses machine learning to predict and optimise finances for small and medium-sized enterprises. The company is already connected to thousands of businesses and aims to unlock financial data to transform how SMEs manage their finances. Fluidly will use the €5.6M grant to accelerate development of its AI-driven cashflow management product, expand data science capabilities, and advance its product roadmap. As part of its commitments it plans to work with accountants, connect 400,000 SMEs to its platform by September 2022, and deliver over 20,000 hours of cashflow advisory training by that date. The funding is intended to boost the company’s expansion plans and broaden SME access to emerging technology. Fluidly is a London-based fintech that offers an "intelligent" cashflow management SaaS for small and medium-sized enterprises. It uses machine learning to access transaction-level bank and accounting data via Open Banking and cloud accounting integrations to automatically forecast future cash flows by predicting invoice timings, payments and other cash movements. Businesses sign up on a monthly subscription basis, and Fluidly also sells volume licences to accounting firms and lenders that then offer the SaaS to their small business clients. Since launching a year ago, Fluidly says it is working with nine of the top 20 U.K. accounting firms, has partnerships with various cloud accounting providers, is one of the fastest-growing apps on Xero’s marketplace and is a Champion-level Sage partner. The company plans to use the new funding to invest in product development and engineering to increase integrations and add features such as scenario-building, forecasting insights, smart alerts and suggested actions. It also intends to scale its sales and marketing team. Fluidly offers a SaaS platform that enables SMEs to predict and optimize cashflow, starting with collecting cash. The solution integrates with cloud accounting packages and Open Banking APIs. The company is led by CEO Caroline Plumb, CTO Dom Barker and Chief Data Scientist Johnnie Ball. After a private alpha with partners, Fluidly plans to launch with Xero during Q4 2017. The company raised £2m in seed funding to expand development operations and grow sales and marketing. The round brings total capital raised to date to £2.375m.

Total raised

$15M

Funding rounds

3

Latest round

Grant

Latest activity

Jun 2019