Mimo raises £15.5m from Northzone to expand its financial platform for small businesses.
The funding round was led by Northzone with participation from Cocoa Ventures, Seedcamp, Upfin VC, and Fost.
Mimo provides a financial management platform designed to help small and medium-sized businesses handle payments and cash flows.
London-based fintech Mimo has raised £15.5m in a funding round led by Northzone to support product development and team expansion. The financing also saw participation from Cocoa Ventures, Seedcamp, and Upfin VC, alongside an asset-backed facility arranged by Fost and backing from several angel investors.
Founded in 2023, Mimo offers a consolidated platform that combines billing, FX, and working capital tools to replace fragmented financial software. The company aims to address chronic late payment issues and administrative drag faced by small businesses by centralising financial operations into a single interface.
From the founder
"I’ve seen first-hand the time-consuming and fragmented processes SMBs must deal with when managing money. SMBs and financial professionals have to jump between apps and spreadsheets to pay invoices or make and chase international payments, all while trying to keep track of and manage cash flow. Mimo bundles this into a single tool so that businesses can easily manage the movement of their money and receive payments in any currency, faster. We’re delighted to be backed by our investors to help give SMBs full control of their finances."
Henrik Grim
CEO at Mimo
Investor perspective
"Having known Henrik for years, we are very excited to partner up with him and his co-founders Alexander and Andreas, who have previously worked together at iZettle and know well what it takes to build and win in the financial SMB market. Companies today face real pain when it comes to coherently managing payments, cash flow, and financing. We believe Mimo’s vision for a true financial management platform aligns well with our thesis. The commercial success Mimo is already seeing today is a testament to the team’s drive and market edge."
Jessica Schultz
Northzone
Use of funds
- 01Continue product development
- 02Grow the team
