Haatch is a venture capital firm with a track record of backing technology companies.
The seed round was led by Haatch with participation from specialist funds and private investors.
"At Bourn, we understand the vital role SMEs play in the UK economy. Our mission is to simplify cash flow management through innovative financial solutions, giving businesses the confidence to grow. This funding propels us closer to our vision of transforming SME finance across the UK."
The investment from Mercia Ventures and Haatch will fund team expansion and platform enhancements.
"We wanted to make it easier for companies to manage global talent and ensure they have the right people in the right place at the right time. By putting the emphasis on skills, TalentMapper also helps ensure employees are promoted for their capabilities. I have seen so many talented people overlooked for promotion because they weren't a replica of their boss. The funding will enable us to build our team to cope with growing demand, add new features to enhance the platform and scale for growth by targeting other sectors including financial and professional services."
The company raised the capital using its own proprietary financial modelling platform to present growth strategies to backers.
The seed round was led by United Ventures with participation from Fabrick and existing backers.
"Open banking has laid the groundwork to reduce payment costs by creating the necessary conditions, but most A2A payment companies haven't been able to leverage this potential. At Volume, we've cracked the problem. We're solving the adoption challenges of account-to-account payments by focusing on the user experience for both businesses and consumers, offering a faster, more secure solution that puts both parties first. Our traction shows that pay-by-bank can be a scalable business model, and we're close to profitability with a clear product-market fit in cross-border payments. Like Stripe did with the shift from cash to card, we're leading the transition from debit cards to bank payments in open banking, while growing sustainably. If widely adopted, Volume could save businesses up to $44 billion per year."
The pre-seed round was backed by Haatch to accelerate platform development and international expansion.
"Today’s recruiters are incredibly busy and have to constantly switch between their work and personal mobiles, WhatsApp, Microsoft Teams, and other channels to communicate with candidates and clients. None of these conversations are being tracked in the CRM or brought together in one place. Recruiters are spending up to two hours a day on manual tasks like writing up call notes, gathering messages and updating CRMs."
