Previse is a UK-based SME working capital platform that uses AI-fueled analytical tools to mine data, predict future revenues, and price risk. Its core product provides working capital finance to businesses to fund trade activity. The company highlights that over $24 trillion of trade is carried out each year and says demand for working capital finance is significant. The $18 million first phase of its Series B will be used to expand its footprint around the world and accelerate adoption of its solutions. Paul Christensen, co-founder and CEO, described Tencent's lead in the round as an endorsement of Previse's model and the market opportunity. The firm expects additional capital as the Series B continues. Previse operates an AI-powered instant payment platform called InstantPay that analyses corporate-buyer data to identify the small number of invoices requiring manual intervention so the rest can be paid immediately. The company says its platform processes over 100,000 invoices daily, supporting SMEs with cashflow management. Previse positions its technology as a way to increase supply-chain resilience by accelerating payments from large corporates. The firm plans to push adoption of InstantPay by more large corporate buyers worldwide, according to CEO Paul Christensen. Previse was founded in 2016 and has offices in London and Glasgow. The company recently secured fresh funding to support broader adoption of its instant-payment technology. Previse builds a machine-learning product that enables SMEs and larger B2B companies to be paid instantly on receipt of an invoice. The platform targets reduction of inefficient B2B payment terms that the article cites as costing businesses $300 billion annually. The company plans to use the new funding to develop its product further and scale to meet customer demand, with an expectation of adding to its workforce. Previse reports strong interest from chief financial officers at large corporations since launching. Financially, the firm has raised $7 million in a Series A and earlier received an £800,000 grant from Scottish Enterprise to establish a Glasgow base. It is based in London and has a presence in Edinburgh and Glasgow, where the grant-funded base created 37 new jobs. Previse is a London-based B2B payment decisions startup that provides large businesses with technology to pay suppliers the day they receive an invoice. It leverages artificial intelligence and hundreds of millions of data points to create an independent score of a multinational buyer’s likelihood to pay an invoice. The company recently secured a £800k R&D grant from Scottish Enterprise. Previse will use the funding to set up a new development centre in Glasgow and create 37 data science jobs. Through a partnership with The Data Lab, Scotland’s Data Science innovation center, Previse is tapping into top Scottish data science academics for two projects to further develop its data analytics technology later in the year. The company was co-founded by CEO Paul Christensen, CPO David Brown, CTO Andre de Cavaignac, Philipp Schoenbucher, and Giulio Rossi. Previse is a London-based company that provides an AI-powered instant B2B payments service for SMEs. Its platform scores the likelihood that a corporate buyer will pay a supplier’s invoice using advanced AI and hundreds of millions of data points. Previse supplies that score to funders, principally banks and asset managers, which pay suppliers instantly on the buyer’s behalf in exchange for a small discount. The company raised £2M in seed funding to continue developing its proprietary AI solution. The round was led by Hambro Perks with participation from Founders Factory and angel investors. Previse is led by co-founder and CEO Paul Christensen and co-founder and Chief Data Scientist Philipp Schoenbucher.

Total raised

$33M

Funding rounds

5

Latest round

Series B

Latest activity

May 2022