London-founded “intelligent cashflow” startup Fluidly has raised a £5 million Series A funding round led by Nyca Partners, with participation from Octopus Ventures, Anthemis, Simon Murdoch, and Charlie Songhurst.
The startup addresses the problem of cashflow management, which, it says, “is the single biggest financial pain-point that businesses face.” Fluidly's machine learning algorithms are supposedly able to predict and optimise cash flow for SMEs and offer insights useful for financial decision making.
“Cashflow forecasting and management is the key to financial decision-making – we’re on a mission to help millions of business owners sleep better at night by giving them control, certainty and confidence in their financial future,” said Caroline Plumb, founder and CEO of Fluidly.
The startup claims to be working with nine out of top 20 accounting firms in the UK, as well as cloud accounting software providers. It also offers integrations with cloud accounting software providers such as Xero and Sage.