Mimo funding news – London-based Mimo Secures $8.5Million in funding

Mimo has partnered with Froda to offer credit options to small businesses in the UK, with plans to expand this service across Europe.

It's platform simplifies business payments and helps manage cash flow for small businesses and accountants. It automates financial tasks like accounts payable and receivable and works with accounting software such as Xero and QuickBooks.

Mimo also provides easy access to working capital with pre-approved credit lines and automates tasks like bookkeeping and reconciliation. The platform helps businesses pay suppliers and employees quickly, get paid faster, and save time by automating everyday financial tasks.

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The finance industry is shifting to digital solutions, with more businesses using cloud-based tools to manage their finances. Automation, AI and integration with other software are becoming crucial for better efficiency, accuracy, and compliance.

Mimo is part of this trend, offering digital tools that automate manual tasks, connect with existing financial tools, and help businesses make faster decisions with real-time data.

Financial platforms must follow strict rules and keep sensitive financial data safe. This includes complying with laws like the General Data Protection Regulation (GDPR) in Europe and using strong encryption to protect financial transactions.

Henrik Grim, co-founder and CEO of Mimo, commented: “At Mimo, we’ve been continually learning from these conversations to iterate and improve the platform to help both Accountants and SMBs save time, save money and control their cash flow. We look forward to working with new investors Project A and returning investors Northzone and Seedcamp as we strive towards this goal.”

Also joining Mimo’s board, Malin Posern, Partner at Project A, added: “We have been closely following Mimo since their launch out of stealth last year. Since then, the team has continued to push the product from strength to strength to solve a problem that could simplify the working lives of millions of people. We are looking forward to working with Henrik, Alexander and Andreas and the team to continue on the exponential trajectory of the business.”

About Mimo

Mimo was founded in 2023 by Henrik Grim (CEO), Alexander Gernandt Segerby (CPO), and Andreas Meisingseth (CTO). It is a platform that makes global payments, cash flow, and financial management easier for small businesses and finance professionals. Mimo has offices in London and Stockholm, with 20 employees.

The platform has grown 10 times in usage over the past year, helping hundreds of small businesses and finance professionals, processing millions of GBP.