Monspire Nets £600K For Its AI-Based Cashflow Management Platform
London-based fintech Monspire with the aim to help companies in cashflow management gathers funding of £600K.
In this uncertain economic environment, it is important for small as well as big businesses to have a complete view of their business finances. To make this information more accessible a fintech named Monspire has stepped in with its AI geared platform.
The company has also recently gathered an investment of £600K in a round led by Fuel Ventures.
With this fresh injection of funds, Moonspire will launch an AI-powered platform to bring new businesses on board. The company also aims to become the leading global cash flow management platform for small businesses. Thus providing them with the accurate and best figures to help expedite their growth, especially in the post-Covid world.
It is no doubt that fintech can help in financial inclusion, especially by helping small companies not only become part of the formal economy. But also helping them in managing their finances.
Ben Gilen, the founder, commented:
-“Most business owners don’t start their own firm with a desire to spend their time running a finance function. As our study found, it actually distracts them from building their business. With Monspire, we want to give business owners the confidence to grow knowing that their finances are taken care of.”-
Moonspire with the idea of making finance management easier for small businesses was founded in 2020 by Simon Draper and Ben Gillen. It is a SaaS platform powered by AI, predicting the cash flows via its forecasting tool. Therefore, enabling them to find spot funding gaps whilst also providing access to invoice financing to help plug gaps. Eventually, aiding businesses to grow and reach their full potential by not worrying about their finances.
With this fintech’s AI-powered technology businesses can plan for any uncertainty and minimize surprises. As it empowers businesses to comprehend, forecast, and manage their cash flows in real-time. Its singular view of finances helps businesses save time. In short, helping them to analyze issues and fill cash flow needs without any fuss.