Yavrio funding news – An Open Banking Yavrio Fintech Secures $2.4 Million in Seed Funding

On bringing on board Javid, a former MP who served as chancellor, health secretary and home secretary, John Lewis, co-founder and CEO, said Yavrio's chief commercial officer previously worked with Javid. He said Javid would be “great” in expanding and articulating the fintech’s vision. He added “there are things that he has seen before that we haven’t” and that the former chancellor could also open doors to new investors."

Yavrio uses open banking to help customers transfer data from banks into ERP (enterprise resource planning) systems and send payments from ERPs to banks. The company aims to improve the ERP process by removing the need for error-prone CSV file imports.

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Yavrio points out that many businesses still rely on manual processing and outdated CSV files, which lack modern security features like encryption, password protection, and data validation, making them vulnerable to breaches.

Yavrio’s platform links ERP systems directly to banks, eliminating the need for manual CSV file uploads, which makes transactions faster and more secure. The company plans to use the funds to improve its infrastructure and expand into new regions, with a focus on growing in the US.

Lewis said: Over the past decade, finance teams have moved away from clunky, outdated software to embrace finance and ERP systems which improved productivity and provided automation opportunities. However, for all the incredible opportunities they offered, they have fallen short as finance professionals still had to manually download CSV files, with significant error and fraud risk, and carry out time-consuming reconciliations. Yavrio is the next iteration of this transformation. By automating the mundane task of bank account reconciliations, effortlessly pulling the statements from the bank account, reconciling them against the ledger, and posting them, we enable finance teams to get the most out of their ERP experience without the spreadsheet headaches. This funding marks a pivotal moment for Yavrio as we move out of stealth mode and start scaling globally."

About Yavrio

Yavrio is the top bank connectivity app for Microsoft Dynamics 365 Business Central. Their goal is to help finance teams around the world.