Monspire, a London, UK-based cashflow management SaaS platform, powered by AI, raised £600K in funding.
The round was led by Fuel Ventures.
The company intends to use the funds to launch to market and rapidly onboard new businesses.
Founded by serial tech entrepreneurs Simon Draper and Ben Gillen, Monspire provides a platform that enables small businesses to predict their cashflow needs through its forecasting tool, empowering them to spot funding gaps, while providing access to invoice financing to help plug gaps.
The company has also joined AWS’ Startup Loft Accelerator, an equity-free programme supporting early-stage startups in Europe, Middle East and Africa with technology, product development and go-to-market advice.