Led · Seed · Sep 2023

Swallow offers a free-to-use, no-code SaaS platform that separates pricing models from software development code so pricing teams can build and manage models without developer input. The product lets professionals make pricing model changes in minutes and serve them to customers with confidence. The company intends to use recent funding to accelerate product development, customer acquisition and business development. Swallow was founded in 2022 by Callum Rimmer and is based in London, UK. Rimmer previously founded usage-based car insurer By Miles, which was acquired by Direct Line Group in April 2023, and has worked at Goldman Sachs, Deutsche Bank, Orange and Tesco. The article states the company raised $1M in funding.

Participated · Seed · May 2022

Bamba offers an enterprise management platform and Android app that lets micro-merchants record cash and mobile-money transactions, manage inventory, and handle basic CRM. The product ties inventory and transactions together and aims to evolve into point-of-sale capabilities to give merchants a clearer picture of their business. Bamba plans to use its transaction and inventory data to underwrite cash advances and lending against future cash flow. The startup is currently in stealth mode, testing its platform with 30 merchants, and projects a broader launch across 12 markets. Its revenue model comprises a small payment fee charged to merchants and interest from its lending/cash advance product. The company was founded with Martin Schramm in January and is roughly five months old.

Participated · Series B · Feb 2022

Payhawk provides a unified B2B payment stack that centralizes payments in a modern interface, issuing dedicated IBANs and offering virtual and physical cards alongside expense software. Customers can upload funds, use cards with rules, budgets and approval workflows, and receive 3% cash back on card payments (capped at the subscription price). The platform supports cash reimbursement, outgoing bank transfers for bills, and integrations with ERP and accounting systems to simplify reconciliation. Payhawk operates in 30 countries and has offices in London, Sofia, Berlin and Barcelona, with plans to open offices in Amsterdam, Paris and New York. Its annualized recurring revenue has been doubling every quarter for the past few quarters, reflecting strong growth. Planned product additions include Oracle NetSuite integration, subscription management, and enhanced budgeting features. Payhawk provides an all-in-one financial management solution with dedicated IBAN accounts, virtual and physical cards, approval workflows, and integrations with ERP and accounting software. The product covers payments, invoice collection, expense reconciliation, employee reimbursements, and bill payments without outgoing bank transfer fees. Payhawk charges no conversion fees for EUR, GBP and USD, applies a 1.99% exchange markup for other currencies, and recently introduced 3% cashback on card payments capped at the subscription price. The company generates revenue primarily from interchange fees and reported a 663% increase in transaction volume since its Series A earlier this year, indicating rapid revenue growth. Payhawk currently has offices in London, Sofia, Berlin and Barcelona and serves customers across 27 European countries, with concentrations in the U.K., Germany, Spain, Belgium, the Netherlands and Luxembourg. The company plans to open offices in the U.S., the Netherlands, Australia and Singapore and is working on credit cards and improved cross-border transactions. Payhawk, founded in 2018, provides a one-stop platform that combines tools for payments, invoices and expense management to bridge banks and ERP systems. The company serves finance teams with a single solution across 30 countries. Its product roadmap includes new payment products (including credit cards), support for additional currencies with FX rates, and streamlined cash flow from existing bank accounts to Payhawk. Payhawk plans to accelerate its use of AI and machine learning to introduce smart workflows and reduce manual review and approval. It also intends to triple its marketing and sales team in 2021 to grow presence in the UK, Germany and Spain. Customers named in the articles include LuxAir, Lotto24, Viking Life, ATU, Gtmhub, MacPaw and By Miles. Payhawk provides a paperless corporate card and platform that simplifies and automates expense management for businesses. Its platform enables CFOs and business owners to manage the entire spending lifecycle end-to-end, from employee requests to loading corporate cards, invoice collection, accounting reconciliation, and real-time reporting. Launched in Sofia, Bulgaria, the company serves customers in 14 European countries and has made Berlin its new sales headquarters while investing in a local German market presence. The company is led by CEO Hristo Borisov, CFO Konstantin Djengozov and CTO Boyko Karadzhov. Payhawk closed a €3m seed funding round and intends to use the proceeds to continue expanding operations and its business reach across Europe. Payhawk.io provides an expense management system that issues instant digital and physical debit cards for employees, lets managers set budgets and limits, and enables real-time expense monitoring. The software extracts data from uploaded invoices and delivers structured reports for accountants. Founded in summer 2018, the company officially launched its product in February 2019 and quickly acquired paying customers across three markets. Since launch the seven-person team has signed eleven clients in the UK, Germany and Bulgaria, serving startups (~20 employees) and larger firms up to 150 employees, with pricing starting from €10 per user per month. Payhawk.io runs R&D in Sofia and maintains a sales office in London while supporting Bulgarian currency and a Cyrillic interface. The company targets the UK and Germany and has secured strategic partnerships with Visa and Wirecard following recognition at the Paris Fintech Forum. It plans to use new funding to double the team and develop its UK sales office.

Participated · Series B · Jan 2022

Refyne builds an earned wage access platform that connects with employers so employees can see how much they have earned and withdraw a portion anytime. The platform supports 12 languages and is compatible with any HRMS and ERP, serving both white- and blue-collar workforces across multiple sectors. More than 150 firms — including Practo, TeamLease, Tenon, Shadowfax, Rebel Foods, Acko, BlackBuck, Arti Group and Cafe Coffee Day — use Refyne, covering over 700,000 employees. The company says the service has a significant impact on retention and helps employers hire faster; it tailors deployment strategies by sector (on-ground orientation for manufacturing, Zoom for distributed workforces). Refyne is one-and-a-half years old, aims to serve 3 million workers by the end of the year, is hiring across roles, and is building data sets to better evaluate creditworthiness and distinguish its product from credit offerings like payday loans. Refyne is a Bangalore-based, one-year-old startup that provides earned wage access software to employers. Its plug-and-play platform lets employees check how much they have earned and withdraw a fraction of it anytime, aiming to reduce reliance on payday loans and predatory microcredit. The product targets employers of all sizes and is positioned to serve both blue-collar and white-collar workforces. More than 100 companies use Refyne’s platform, serving over 300,000 employees; clients include Rebel Foods, Cafe Coffee Day, Hira Group and Chai Point. Refyne recently raised $20.1M in financing (a $16M Series A and a $4.1M seed) and plans to deploy the capital to expand its technology team and accelerate growth. By the end of the current financial year the company aims to serve 1 million workers in India.

Led · Seed · May 2021

Founded in 2017 by JP Then and based in London, Slerp provides an e-commerce solution that enables direct transactions between hospitality brands and customers while preserving brand image, customer data, and platform settings. The platform targets premium and Michelin-starred dining experiences, helping them launch online offerings and cook-at-home meal boxes. Slerp charges a 7.5% commission on transactions. The company says its service helped hospitality businesses sustain revenue through successive pandemic lockdowns and establish a new online business line as the economy reopens. Slerp competes with players such as Bistroo and Cook and Thief but positions itself as a digital business partner rather than a marketplace. The firm plans to continue rapid growth, expand its team, and push into continental Europe.