Adsum Raises $5 Million for Innovative Financial Solutions
Adsum, a forward-financer based in London, UK, has recently made headlines with a successful funding round in which the company raised an impressive $5 million. This significant investment was spearheaded by Episode 1 and Digital Horizon, two prominent venture capital firms known for their innovative approach to funding. Additionally, the round saw participation from D2 and a number of influential angel investors hailing from both London and New York. This latest financial boost follows the establishment of credit facilities with institutional credit investors that took place at the end of 2021, further solidifying Adsum's financial foundation as it continues to grow.
Founded in 2020 by the dynamic duo Justina Tartilaite and Freddie Digby, Adsum specializes in providing cash flow solutions that enable users to thrive by calculating and advancing funding options for various UK tax receivables.
These include VAT, Creative Industries, and R&D Tax Credits, thereby catering to a wide array of businesses in need of financial support. One of the key advantages that Adsum offers is its proprietary technological solution, which allows the company to automatically calculate VAT, R&D, and creative industry tax credits and refunds. This innovative approach effectively eliminates the need for traditional tax consultancy work, allowing businesses to focus on growth without getting bogged down by the complexities of tax claims.
To further enhance its service offerings and strengthen its operational capabilities, Adsum has assembled a talented team that includes Ben Rodgers and Shreeya Arora. Both of them joined the founding team shortly after it was established, with Ben focusing on building out the technical team and Shreeya dedicated to developing the product side of the business. With this robust foundation in technology and product development, Adsum is poised to offer its clients the capability to access capital in as little as twenty-four hours. This rapid turnaround time not only showcases Adsum's commitment to serving its clients effectively but also highlights the company's competitive edge in the ever-evolving landscape of financial services.
They've invested in Adsum
Get to know these Fintech investors
Click here for a full list of 7,526+ startup investors in the UK