Float raises funds as it looks to make expansion into Australasia

Cash flow forecasting software Float has reportedly closed a £1.5m funding round as it looks to move into Australia and New Zealand markets.

To support its international ambitions, the company is opening an office in Australia later this month, according to a report from Business Cloud.

Marchmont Ventures, a Scottish investment firm, was among those to commit to the round.

Scotland-based Float gives companies a real-time view of their accounts to improve their cash flow forecasts. A consolidated dashboard provides clear access to information and automatically generated real-time insights.

Float co-founder and CEO Colin Hewitt told Business Cloud, “Cash flow management is critical to the survival and success of SMEs, and it remains the number one issue keeping business owners awake at night.

“We’ve seen a huge increase in demand with businesses looking for solutions to manage and forecast cash flow. As such, we’ve raised the funding required to grow our team and expand both locally and internationally.”

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