Fluidly, a London, UK-based fintech startup delivering intelligent cashflow management for SMEs, raised a £5M ($6.5M) in Series A funding.
The round was led by Nyca Partners led the round with participation from Octopus Ventures, Anthemis and tech angels Simon Murdoch and Charlie Songhurst.
The company intends to use the funds to expand the team of engineers and data scientists working to advance the product, and also to build sales and marketing capacity.
Led by Founder and CEO Caroline Plumb, Fluidly is building a SaaS based intelligent cashflow platform to automate the forecasting and management of finances for businesses using machine learning. The company’s software uses data to predict and optimize the financial future for SMEs.
The platform, which integrates with both cloud accounting packages and Open Banking APIs, is now working with nine of the Top 20 UK accounting firms, (including BDO, Mazars, Baldwins and Haysmacintyre, as well as numerous smaller accountants) to reach thousands of SME end users.