Jenesys AI Raises $1.1M in Pre-Seed Funding

Jenesys, a London, UK-based company which specializes in B2B invoice management and payments, raised $1.1M in Pre-Seed funding.

The round was led by Nick Slater and John Spindler at London’s Twin Path Ventures, with participation from Fuel Ventures, Antler, Hatcher+ in Singapore, and angel investors from the US and UK.

The company intends to use the funds to expand its engineering, customer success and global payment compliance efforts. 

Founded by Nicolai Thomson and Tosin Dairo, Jenesys AI combines enterprise and financial management expertise with AI and computer science expertise to provide a platform that addresses critical inefficiencies in financial management. It focuses on elevating the role of bookkeepers and accountants with an AI co-pilot called “Jack”. By shifting human accountants to supervisory positions, its technology minimises errors and inconsistencies in transaction reconciliation, compliance and payments.

Adding to its ten-strong team, Jenesys AI added Jonathan Bredo after acquiring his Andreessen Horowitz Scout-funded (“a16z”) digital TaxTech company, VAT Key, in an undisclosed cash & equity deal, adding the global venture firm to Jenesys’ cap table. VAT Key and its brand will receive an injection of capital to expand beyond its home market of Denmark, helping SMEs reclaim VAT for EU business travel outside their home market. 

Formerly among the first 30 employees at Pleo, Bredo will join Jenesys AI as Strategy Manager, heading up payments and Compliance.