Fintech
British fintech startup Viable donates €2.8 million to help SMEs deal with financial problems
Based in London Vitalan intelligent finance platform designed for D2C, multi-channel and wholesale brands, has announced that it has closed its seed funding round for £2.4 million (approximately €2.81 million).
Viable simplifies financial operations and optimizes working capital for the next generation of online and multi-channel sellers.
Investors back Viable
The investment came from Episode 1, Hatch, Portfolio initiativesand a group of angel investors led by Martin Brailsford, former founder and CEO of Internet Fusion. This round follows a previous pre-seed in 2023 led by the same group of angel investors.
Simon Murdoch, managing partner of Episode 1, says: “Given my background at Amazon and then as an investor in a number of e-commerce businesses, I understood how difficult it is for them to predict cash flow and decide what strategic moves to make to improve profits and cash flow.”
“It is also very difficult to get financial advice from experts in a cost-effective way. Viable makes it easy for entrepreneurs to plan ahead and achieve business success.”
Smart finance for digital commerce brands
Verticalized vital buildings finance technology for a new type of online and multi-channel merchants to simplify financial tasks and help businesses make better use of their money. It does this by leveraging recent developments in open banking, payments and AI infrastructure.
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According to Viable, many sellers on platforms like Shopify, Amazon and TikTok have noticed “dramatic” changes in the equity, debt and credit landscape post-COVID-19. Costs are rising, competition is getting tougher, and borrowing money or getting credit is more difficult. This makes it difficult for them to manage their money well and do their best financially.
Viable co-founder and CEO Franklyn Martin says: “There is a growing disconnect between traditional financial management processes and how early-stage brands need to operate. The next generation of DTC success stories will need to grow with leaner teams and exceptional initial financial performance.”
“We are building an intelligent financial product that gives merchants the ability to process transactions, report financial measures, adjust budgets, visualize scenarios, access financing and ultimately improve financial outcomes.”
Viable released its technology last year to help solve the financial problems of fashion, beauty and health retailers. Now, with seed funding, the company aims to accelerate the development of integrated financial products, increasing accessibility for merchants.
The company was founded in 2023 by Franklyn Martin, Henry Young and Steven Haynes.