UK FinTech Bourn has closed a £1.5 million seed funding round with a mission to transform the SME finance landscape with its flexible trade account (FTA).
The London firm was founded just last year and is looking to address the cash flow challenges faced by UK SMEs.
Partnering with banks and lenders, Bourn offers its white-label solution to aim to help financial institutions grow portfolios, mitigate risk, and optimise returns.
The funding round was led by Haatch, alongside fintech specialists Love Ventures, Portfolio Ventures, and Aperture, with additional backing from private investors.
It has also appointed FinTech executive and former banker Leda Glyptis as a non-executive board member.
“At Bourn, we understand the vital role SMEs play in the UK economy. Our mission is to simplify cash flow management through innovative financial solutions, giving businesses the confidence to grow,” said Nick Tracey, Bourn CEO.
“This funding propels us closer to our vision of transforming SME finance across the UK.”
Marcus Love, general partner at Love Ventures, added: “Bourn brings together a group of industry-leading seasoned professionals solving a very real problem that they understand deeply.
“I am honoured and excited to be joining this team bringing tangible value to businesses and driving financial accessibility.”
Man who created GTA & Stuart Little invests in Cardiff startup