Bourn Secures £1.5M Seed Funding to Transform Cash Flow Management for SMEs

Bourn Secures £1.5M Seed Funding to Transform Cash Flow Management for SMEs

Bourn, a pioneering UK-based FinTech startup specializing in SME finance, has successfully secured £1.5 million in seed funding to enhance its AI-driven Flexible Trade Account (FTA). This funding round, spearheaded by Haatch, saw participation from notable fintech investors including Love Ventures, Portfolio Ventures, and Aperture, along with private backers.

Expansion of Bourn’s Innovative Financial Solutions

Founded by industry veterans Roger Vincent, Nick Tracey, and Paul Gambrell, Bourn is on a mission to tackle the cash flow challenges that small and medium-sized enterprises (SMEs) face. The company has recently appointed Leda Glyptis, a former banker and FinTech executive, as a non-executive board member to bolster its expertise.

Addressing Cash Flow Challenges for SMEs

Bourn’s flagship product, the Flexible Trade Account, offers a modern alternative to traditional business overdrafts. This innovative solution integrates:

  • AI-driven risk assessment
  • Open Banking technology
  • Seamless connectivity with accounting software

This combination enables Bourn to provide an automated revolving credit facility tailored for SMEs. By collaborating with banks and lenders, Bourn offers a white-label solution that allows financial institutions to grow their SME portfolios while minimizing risk and maximizing returns.

Strategic Use of Newly Raised Funds

The funds raised will be allocated towards:

  1. Further product development
  2. Enhancing technology
  3. Accelerating market entry

Bourn’s CEO, Nick Tracey, emphasized the significance of this funding, stating, “At Bourn, we recognize the crucial role SMEs play in the UK economy. Our goal is to simplify cash flow management through innovative financial solutions, empowering businesses to confidently expand.”

Support from Industry Leaders

Marcus Love, General Partner at Love Ventures, highlighted the value of Bourn’s offering, remarking, “Access to working capital is one of the major obstacles to SME growth. Bourn’s solution presents a scalable and efficient funding option for UK businesses, and we are excited to support their journey.”

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New board member Leda Glyptis also expressed her enthusiasm, stating, “Bourn brings together a team of seasoned professionals addressing a real problem with deep understanding. I am honored to join a team that is delivering tangible value to businesses and enhancing financial accessibility.”

For more information on Bourn’s innovative solutions and how they can assist your business, visit their official website or check out our related articles on FinTech solutions and SME finance challenges.

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