Spendkey raises £358k in pre-seed funding to expand its artificial intelligence spend analytics platform.
The pre-seed round was backed by Fuel Ventures and Scalebridge Capital to support product development and international growth.
Share allotment filed at Companies House
Spendkey provides a real-time spend intelligence platform powered by artificial intelligence to help large organisations monitor and analyse corporate expenditure. The London-based firm turns large volumes of financial data into actionable insights.
London-based spend intelligence platform Spendkey has secured £358k in pre-seed funding from Fuel Ventures and Scalebridge Capital, alongside several angel investors. The capital will enable the firm to emerge from stealth mode and scale its operations.
Established in 2020, Spendkey will direct the new resources toward international expansion, product enhancement, and the recruitment of dedicated sales and marketing personnel. The platform allows corporate leadership teams to gain granular visibility into expenditures and automate manual financial processes.
From the founder
"This investment is the next step on Spendkey’s journey, and it will provide us with the financial resources we need to enhance our platform’s user-friendly workflows and carbon reduction features. We’re thrilled to partner with Fuel Ventures and Scalebridge Capital to continue our mission to provide tangible spending insights, accelerating and automating decisions."
Alex Grundy
Co-founder at Spendkey
Investor perspective
"What excites us with Spendkey is their ability to leverage AI to transform financial spending data and give businesses greater transparency over their spending at a granular level. It will empower businesses to make intelligent decisions around their spending, putting them on the front foot, and enabling them to proactively make more informed decisions over their finances."
Alexander Breeden
Senior Associate, Fuel
Use of funds
- 01Expand into international markets
- 02Invest in sales and marketing
- 03Continue product development
- 04Grow the team
