Nook raises £800k in pre-seed funding led by Speedinvest and TriplePoint to develop its payment platform.
Speedinvest and TriplePoint led the pre-seed round, which will fund product expansion and team growth.
Nook provides a trade collaboration platform designed to streamline business-to-business payments and connect accounting ledgers. The company operates from bases in London and Lisbon.
Nook has secured £800k in pre-seed funding to develop its trade collaboration platform and expand operations. The round was led jointly by Speedinvest and TriplePoint, with participation from Ascension, Notion, and several prominent fintech angels.
The capital will be directed towards growing the product and engineering team, advancing platform development, and initiating sales and marketing efforts targeting small businesses and accountants. The investment follows rapid cloud accounting adoption among small enterprises and addresses persistent inefficiencies in business-to-business payments.
Founders Joe Lines and Henry Arnold established the company in 2021 after observing the prevalence of invoice fraud and manual friction in traditional commercial transactions. The fresh injection of capital will support the company as it scales its UK operations.
From the founder
"This got us thinking deeply about how invoice fraud happens to businesses"
Joe Lines
Co-founder at Nook
Investor perspective
"Business payments haven’t kept pace with the way the world works today, making them needlessly cumbersome and time-consuming"
Olga Shikhantsova
Principal, Speedinvest
Use of funds
- 01Grow the team
- 02Continue product development
- 03Invest in sales and marketing
