Previse raises £14.4m in Series B funding led by Tencent to expand working capital solutions
The Series B round was led by Tencent and will support the broader availability of the firm financial solutions.
Share allotment filed at Companies House
Previse deploys artificial intelligence to tackle late payment issues for small businesses by enabling rapid invoice settlement from multinational buyers.
London-based fintech Previse has raised £14.4m in the first phase of its Series B funding round, led by Tencent, with participation from Augmentum Fintech and Reefknot. The fresh capital will be deployed to expand the availability of its working capital finance solutions and support rapid business growth.
The company uses artificial intelligence to examine trade data, allowing it to predict revenues and price risk accurately. Its technology connects smaller suppliers with cost-effective working capital embedded in existing business-to-business transaction platforms.
Following the latest investment, Previse aims to accelerate the adoption of its financial products across global markets. The involvement of Tencent marks a notable endorsement of the firm as it scales its operations.
Use of funds
- 01Expand into international markets
