UK Fintech Viable Raises £2.4m in Seed Funding
UK Fintech Viable has successfully raised £2.4m in its latest seed funding round to enhance finance outcomes for a new wave of online and multi-channel merchants. The funding round saw participation from prominent investors such as Episode 1, Haatch, Portfolio Ventures, and a group of angel investors led by Martin Brailsford, former founder & CEO of e-commerce group Internet Fusion. This round follows a pre-seed funding in 2023, also led by the same group of angel investors.
The company is focused on developing verticalised finance technology tailored for the unique needs of online and multi-channel merchants, enabling them to streamline finance operations and optimize their working capital.
Leveraging recent advancements in open banking, payments, and AI infrastructure, Viable aims to empower merchants in navigating the evolving financial landscape post-covid and increasing competition across various platforms such as Shopify, Amazon, and TikTok.
Since its inception, Viable has been making significant strides in addressing the finance challenges faced by merchants in the fashion, beauty, and health & wellness verticals. The recent seed funding will fuel the company's development of embedded finance products, enhancing accessibility for merchants. Co-founder and CEO Franklyn Martin emphasizes the importance of bridging the gap between traditional financial management processes and the operational needs of early-stage brands, enabling them to achieve commercial success and improve finance outcomes.
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