Money Squirrel raises £185k in a pre-seed round led by Lazaroo-Hood Group to advance its cash flow management platform.
The pre-seed financing was led by Lazaroo-Hood Group to support product development.
Money Squirrel provides an open banking platform that automates business cash flow management and savings allocations. The service helps firms set aside funds for tax obligations and earn interest on idle balances.
Money Squirrel has secured £185k in pre-seed funding to build out its savings automation software and assist British companies with cash flow administration. The financing round was spearheaded by Lazaroo-Hood Group.
The capital arrives as firms face mounting pressure regarding late tax submissions, with billions in corporation tax and VAT submitted past deadlines. Money Squirrel uses open banking connections to automatically isolate funds like tax liabilities into separate accounts whenever a business receives payment.
The platform integrates with various commercial banks to suggest optimal savings accounts and prevent cash flow shortfalls.
From the founder
"Money Squirrel was created to solve my own problem – the hours it took to move the VAT portion from every invoice into a separate, savings account."
Andreea Daly
Founder and CEO at Money Squirrel
Investor perspective
"Andreea’s passion for tech, innovation and being a straight-talking founder had me captivated within 15 minutes of meeting her."
Ross Lazaroo-Hood
Board Advisor, Lazaroo-Hood Group
Use of funds
- 01Continue product development
Investors
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About the company
Money Squirrel
Money Squirrel operates an open banking platform for automated business savings and cash flow management.