Freelancer savings app Flow nets seed round

Flow Your Money, an app to automate savings, investing and budgeting, has scored €3.5m in seed funding, which was led by Bulgarian venture firm Eleven Ventures.

Following the close of the round, the company plans to scale its platform and expand its operations across Europe.

RockSalt, the venture arm of SaltPay, also joined the seed round, as well as Silverflow co-founder Robert Kraal, Payhawk founder and CEO Hristo Borisov, Travel Health Group owner Arnoud Aalbersberg and others.

Based in Amsterdam, Flow is a money management app for freelancers and the self-employed. It claims that this segment lacks the time and financial overview to efficiently handle their insurance, pension and income tax, as well as reserving money for VAT.

Flow aims to guide people towards their financial goals, such as school expenses, home ownership and holidays. Its app lets users automatically distribute incoming and outgoing money flows.

Eleven Ventures managing partner Vassil Terziev said, “All the more people are choosing freelancing as a long-term career path. However, this market segment lacks suitable finance products and services, which often leaves gig-workers and freelancers out of the financial mainstream.

“Flow is on its way to revolutionize the orchestration of both personal and business finance management, leveraging cutting-edge technology and AI. We are very happy to welcome the founders to the Eleven family and further support their journey.”

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