Float secures £1.5m in seed funding led by Marchmont Ventures for international expansion.
The cash flow forecasting platform raised the capital from Marchmont Ventures and Manchester Venture Partners to scale its operations globally.
Float provides cash flow forecasting and budgeting software designed for small businesses and accounting firms. The platform integrates with major accounting packages to deliver real-time financial visibility.
Edinburgh-based cash flow forecasting platform Float has secured £1.5m in a seed funding round led by Marchmont Ventures, with participation from Manchester Venture Partners. The capital will support the company as it opens a new office in Sydney, expands its team across multiple departments, and develops its accounting partnership programme.
The financing represents the first time Float has accepted venture capital. The business experienced strong momentum through the previous year as it approached profitability, driven by growing demand for digital bookkeeping and cloud accounting solutions. Funds will also be directed towards product enhancements tailored to modern accounting firms operating internationally.
From the founder
"Cash flow management is critical to the survival and success of SMEs, and it remains the number one issue keeping business owners awake at night"
Colin Hewitt
Co-founder and CEO at Float
Investor perspective
"We are building an ecosystem of exciting growing companies like Float"
Alan Martin
Managing Director, Marchmont Ventures
Use of funds
- 01Expand into international markets
- 02Grow the team
- 03Continue product development
- 04Invest in sales and marketing