Futrli, a platform which helps small businesses make better decisions, has collected £4m in its Series A round.
The capital injection was supported by e.ventures, Notion Capital and firstminute Capital, and will be used to support the company’s growth and innovation efforts.
This investment marks the first equity line into the company from external sources.
Founded in 2014, Futrli is a cloud-based platform which helps small businesses to make decisions to improve operations. A range of tools for reporting, budgeting, cash flow forecasting and predictive modelling, can help SMEs plan for the future, improve cash flow and gain real-time insight on performance.
The company is supporting more than 40,000 businesses and 1,100 accountants across 130 countries, according to Futrli.
Futrli CEO and founder Hannah Dawson said, “At Futrli our sole purpose is to change how small businesses’ teams make decisions, so they get it right.
“This investment will be used to drive further innovation within the platform to continue to revolutionise how small business teams work. We are also expanding our team in our core markets and will be opening in new locations within the next few months, which is hugely exciting.”
As part of the deal, Brandwatch CEO Giles Palmer has been made the chairman of the Futrli board. Joining Palmer on the board will be Notion general partner Jos White, and e.ventures partner Christian Miele.
Earlier in the year, e.ventures led the $6m Series A of Braavo Capital, an integrated financing platform for mobile app developers. The platform, which automates the financing process, uses real-time business data to offer two credit products based off of current and future earnings.
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