Jenesys AI, a London-based startup, raises €1 million Pre-Seed Funding. Veteran AI investors Nick Slater and John Spindler of London’s Twin Path Ventures led the investment round, with participation from seasoned US and UK angel investors as well as Fuel Ventures, Antler, and Hatcher+ in Singapore.
The additional funds will be utilised for customer success, engineering, and increasing global payment compliance. The company’s innovative software, which reinvents the use of AI in back-office financial operations inside the $580 billion worldwide accounting sector, is fueled by this funding.
Mark Pearson, Managing Partner, Fuel Ventures said, “We are hugely excited to join Jenesys on their journey towards transforming the FinOps space with their leading-edge technology. Nicolai and Tosin are two impressive founders who have assembled a fantastic team of executors. We’re confident they can go and win in this market,”.
Ollie Purdue, Partner at Antler, commented: “AI is the single biggest growth opportunity in the world, and Jenesys is applying genuine innovation in this space to transform invoice and cash flow management. Today’s funding and acquisition announcement is a testament to their future potential. This ambitious and highly skilled founding team builds world-class technology that addresses an urgent market demand. We are proud to have backed Nicolai and Tosin from day zero and to continue backing them as they grow.”
Their AI co-pilot “Jack,” who is driven by their proprietary Accounting Language Model (ALM), is the pinnacle of their invention. In order to ensure compliance with international financial regulations and accounting policy, Jack will efficiently work from bookkeeper to internal auditor, updating budgets and finishing the bookkeeping reconciliation, fraud, and compliance check in less than 30 seconds before making a domestic or global payment.
Nicolai Thomson, CEO of Jenesys AI, added: “These regulated tasks can’t not be done, so outsourcing tasks to low-cost labour isn’t just unsustainable; it’s a missed opportunity to leverage AI for efficiency and accuracy at a lower cost”, Thomson states. Further highlighting Jenesys AI’s unique approach, he adds: “Our software is designed for all employees, not just finance professionals. Jack starts working when an employee requests to spend company money via Slack or Teams, allowing Jack to take over most data entry and operational tasks, enabling accountants to focus on validation and analytical work.”
About Jenesys AI
Founded in November 2022, Jenesys AI, which has an AI co-pilot named “Jack,” is focused on enhancing the function of bookkeepers and accountants. Jenesys AI’s technology minimises errors and inconsistencies in transaction reconciliation, compliance, and payments by putting human accountants into supervisory roles.
Established by Nicolai Thomson and Tosin Dairo amid Antler’s founder residency, Jenesys AI blends Dairo’s computer science and AI proficiency with Thomson’s enterprise and financial management know-how.