Fluidly, a London-founded startup, Fluidly, has raised £ 5 million in a funding round led by Nyca Partners, with the participation of Octopus Ventures, Anthemis, Simon Murdoch and Charlie Songhurst.
The startup addresses the problem of cash flow management, which it says “is the biggest financial pain point companies face.” Fluidly’s machine learning algorithms can purportedly predict and optimize cash flow for SMEs and provide useful information for making financial decisions in manufacturing.
“Cash flow management and forecasting are the key to financial decision making – we are on a mission to help millions of business owners sleep better at night by giving them control, security and confidence in their financial future.” said Caroline Plumb, founder and CEO of Fluidly.
The startup claims to be working with nine of the top 20 UK accounting firms, as well as cloud accounting software providers. It also offers integrations with cloud accounting software providers such as Xero and Sage.