Fintech Startup Mimo Secures £15.5M in Funding
April 12, 2024, 3:33 pm
London and Stockholm-based fintech startup Mimo has successfully raised £15.5M in funding to further develop its financial management platform. The funding round was led by Northzone, with participation from Cocoa Ventures, Seedcamp, Upfin VC, and various angel investors.
Founded in 2023 by Henrik Grim, Alexander Gernandt Segerby, and Andreas Meisingseth, Mimo aims to simplify global payments, cash flow, and financial management for small and medium-sized businesses (SMBs) and finance professionals. The platform offers tools that streamline international transactions, making financial administration easier for SMBs involved in inventory management or international trade.
With over 50 SMBs and finance professionals already using its platform, Mimo processes several million GBP in transactions every month. The company plans to use the newly secured funds to enhance its B2B payments solution for SMBs and expand its team.
Northzone's Jessica Schultz expressed excitement about partnering with Mimo, highlighting the team's experience in the financial SMB market. She emphasized the importance of coherent payment management, cash flow, and financing for businesses, noting that Mimo's vision aligns well with Northzone's investment thesis.
Mimo's success in the market is a testament to the team's dedication and innovative approach to financial management. As the fintech industry continues to evolve, Mimo's platform stands out for its ability to address the complex needs of SMBs and finance professionals, providing a comprehensive solution for managing money flow and payments in multiple currencies.
Overall, Mimo's recent funding round signals a promising future for the fintech startup as it works towards becoming a leading player in the financial management space, offering valuable tools and services to support the growth and success of SMBs and finance professionals worldwide.
Founded in 2023 by Henrik Grim, Alexander Gernandt Segerby, and Andreas Meisingseth, Mimo aims to simplify global payments, cash flow, and financial management for small and medium-sized businesses (SMBs) and finance professionals. The platform offers tools that streamline international transactions, making financial administration easier for SMBs involved in inventory management or international trade.
With over 50 SMBs and finance professionals already using its platform, Mimo processes several million GBP in transactions every month. The company plans to use the newly secured funds to enhance its B2B payments solution for SMBs and expand its team.
Northzone's Jessica Schultz expressed excitement about partnering with Mimo, highlighting the team's experience in the financial SMB market. She emphasized the importance of coherent payment management, cash flow, and financing for businesses, noting that Mimo's vision aligns well with Northzone's investment thesis.
Mimo's success in the market is a testament to the team's dedication and innovative approach to financial management. As the fintech industry continues to evolve, Mimo's platform stands out for its ability to address the complex needs of SMBs and finance professionals, providing a comprehensive solution for managing money flow and payments in multiple currencies.
Overall, Mimo's recent funding round signals a promising future for the fintech startup as it works towards becoming a leading player in the financial management space, offering valuable tools and services to support the growth and success of SMBs and finance professionals worldwide.