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Notion Capital

Notion Capital

Venture Capital

Notion Capital is an early-stage business software investor in Europe with over $1bn in assets under management and a portfolio featuring companies such as Currencycloud, GoCardless, and Mews.

Portfolio

35

companies

AUM

£1000M

under management


Portfolio companies

U

Unbox

Unbox provides infrastructure and management tools for social commerce.

G

GoodFit

GoodFit provides an AI-driven data platform for modern go-to-market strategies.

TERN Group

TERN Group

TERN Group builds an AI platform for sourcing and relocating clinical workforce talent.

Zango

Zango

Zango automates regulatory compliance for financial services using artificial intelligence agents.

OpenTrade

OpenTrade

OpenTrade provides infrastructure that enables fintechs to offer stablecoin yield products.

Treefera

Treefera

Treefera provides an AI-enabled data fabric for supply chain resilience.

Origin

Origin

Origin provides a global benefits intelligence platform for human resources and benefits teams.

Isembard

Isembard

Isembard builds software-first manufacturing infrastructure for critical industries.

Aslan

Aslan

Aslan offers a financial wellbeing platform to help employees manage their pay and earnings.

Cogna

Cogna

Cogna provides AI-powered software development to solve complex operational inefficiencies for traditional industries.

Ferovinum

Ferovinum

Ferovinum provides a digital platform for funding and supply chain management in the drinks industry.

GigPig

GigPig

GigPig operates a live music marketplace connecting hospitality venues with musical talent.

S

Symbe

An artificial intelligence platform that automates business case creation to help sales teams close deals.

G

Griffin

Griffin provides full-stack Banking as a Service infrastructure for financial technology companies.

V

Vortexa

Vortexa delivers real-time analytics for global energy and freight markets.

H

Harriet

Harriet provides an artificial intelligence assistant to handle internal human resources queries and documentation.

Quench.ai

Quench.ai

Quench.ai builds an artificial intelligence learning coach for professional development.

Outverse

Outverse

Outverse builds a full-stack community platform for modern software companies.

Fertifa

Fertifa

Fertifa provides reproductive healthcare wellbeing support and navigational advice to corporate clients.

m3ter

m3ter

m3ter provides a pricing operations platform that automates usage-based pricing models for software companies.

S

Superlayer

Superlayer builds a pipeline management platform for sales leaders.

Cledara

Cledara

Cledara offers a software management platform designed for growing companies.

H

Hokodo

Hokodo provides digital trade credit and payment solutions for business commerce.

C

Cyscale

Cyscale provides graph based cloud security analysis to help enterprises prioritise high risk issues.

Paddle

Paddle

Paddle provides a complete payments infrastructure and merchant of record service for software companies.

Sona

Sona

Sona provides an intelligent workforce management platform for frontline enterprises.

E

Easol

Easol provides an all-in-one commerce platform for experience creators and travel businesses.

Admix

Admix

Admix develops in-play monetisation technology for video games and virtual worlds.

YuLife

YuLife

YuLife transforms traditional life insurance into a suite of wellbeing and rewards products.

B

Brightpearl

Brightpearl operates a digital operations platform for retail and wholesale businesses.

K

KisanHub

KisanHub provides an online platform that streamlines data collection and decision making for agricultural supply chains.

Acin

Acin

Acin provides a digital data standards and benchmarking platform for operational and non-financial risk.

Scoota

Scoota

Scoota provides automated omni-channel digital branding and fraud prevention technology.

NV

New Vector

New Vector offers commercial services and applications for the decentralised communication protocol Matrix.

yulife

yulife

yulife provides life insurance that incentivises everyday healthy habits.


Team

JW

Jos White

General Partner

LinkedIn
Ian Milbourn

Ian Milbourn

General Partner & CFO

LinkedIn
SC

Stephen Chandler

Managing Partner

Stephen is a managing partner at Notion Capital and chairs the venture capital forum at the BVCA. He brings extensive investor and board experience across multiple companies.

LinkedIn
CT

Chris Tottman

Partner

Chris brings venture capital and commercial experience from Notion Capital, MessageLabs, and Included VC, alongside authorship on B2B SaaS and go-to-market strategy.

LinkedIn
Andy Leaver

Andy Leaver

Operating Partner

Andy serves as chief executive officer at Arqit and partner at Notion Capital, alongside board roles at Panaseer and TechWolf. He brings extensive investor and executive experience across multiple firms.

LinkedIn
KM

Kamil Mieczakowski

Principal

PN

Patrick Norris

General Partner

Id

Itxaso del Palacio

Partner

SO

Stephanie Opdam

Partner

MR

Mark Ransford

Investor


Recent investments

Seed
£1.2M

The seed round was led by Mercuri with backing from Love Ventures and Notion Capital.

"Every major social platform is becoming shoppable, and every global brand will need infrastructure to make social commerce deliver. We know from our experience at TikTok Shop both the scale of the opportunity and the structural challenges enterprises face. Unbox is building the platform to power sustainable growth in this new channel, helping the world’s biggest brands sell through social with confidence."
— Hugo Soul, Co-founder and CEO
Series A
£17.7M

The Series A round was led by Notion Capital with participation from multiple venture firms and angel investors.

"Every Trust we meet tells us the same story: they need qualified staff now, but they cannot risk patient safety or compliance. Our platform gives them speed without compromise, predictability without cost inflation, and sustainability where locum dependency has become unsustainable. TERN Group’s mission is for every placement to set off a chain reaction: anurse arriving on time means a ward runs smoothly, which means patients get treated faster. This raise enables us to make those chain reactions happen at scale, across the UK and beyond."
— Avinav Nigam, Founder and CEO
Seed
£3.5M

Nexus Venture Partners led the seed round to support team expansion and product development.

"We don’t sell a platform; we sell a solution. Our AI agents are paired with humans-in-the-loop to ensure 100% accuracy. Peace of mind doesn’t come from a tool; it comes from a result. That’s why we win against consultants because they don’t just sell software, and neither do we."
— Ritesh Singhania, Co-founder
Seed
£5.1M

The financing round was led by Notion Capital and Mercury Fund to accelerate go-to-market and product development.

"Notion and Mercury are exceptional B2B investors with a strong track record of backing category-defining companies, and we’re thrilled to partner with them. Combined with a16z’s leadership, and Albion and CMCC’s deep expertise, we have the network, experience, and momentum to scale globally and help unlock access to dollar-based savings for individuals historically outside the reach of traditional financial systems."
— Dave Sutter, CEO
Series B
£22.1M

Notion Capital led the Series B round to support the company expansion across North America, APAC, and Europe.

"Our world runs on nature-based commodities, yet information on the physical source of these assets remains largely invisible to the systems that depend on them. Data informs the flow of capital, and at Treefera we equip enterprises with the clarity to strengthen supply chain resilience, secure future revenue, and scale the upside of regenerative practices. With defensible real-time insights on commodities, ingredients and carbon from the first-mile, businesses can not only have clearer sightlines into sourcing but mitigate risk and ensure compliance. This backing led by Notion Capital enables us to accelerate our mission globally for the benefit of business and planet."
— Jonathan Horn, Founder and CEO
Series A
£15.7M

The Series A round was led by Felix Capital with backing from Acadian Ventures and Notion Capital.

"We created Origin because global benefits teams urgently need clarity, efficiency, and control. Our AI-powered platform, Origin, turns vast, fragmented benefits data into a single source of actionable insights, enabling immediate cost savings, strategic decision-making, and better employee outcomes. Origin empowers HR leaders to transition from administrative complexity to strategic clarity, optimizing one of their organization’s largest investments."
— Chris Bruce, CEO and Co-founder
Seed
£7.0M

Notion Capital led the seed financing to help the software-first manufacturing firm scale its operations and technology.

"Manufacturing is the backbone of economic prosperity, national security and our collective purpose as humanity. Yet our industrial base is dying. We’re building a new model, one that decentralises production while driving efficiency through software and automation. With support from top investors who share our vision, we are forging industrial acceleration for the West."
— Alexander Fitzgerald, Founder and CEO
Seed
£3.9M

The seed round was led by Notion Capital with backing from Redstone and angel investors.

"We are incredibly excited to have the support of such highly respected Fintech investors as we enter this next phase of growth. This investment is a testament to the progress we’ve made, working with forward-thinking clients across multiple sectors within the UK workforce. But we are just getting started; Aslan will fundamentally change the way that we all get paid, and how companies reward their people."
— James Gozney, Founder and CEO
Series A
£11.6M

Notion Capital led the Series A round to support Cogna in scaling its AI-powered software development platform across traditional industries.

"Traditional industries have been left behind by the digital revolution due to the complexity of their operational challenges. Cogna’s mission is to empower these sectors with precision software technology that addresses every unique company pain point on its own terms, enabling immediate productivity gains. This funding allows us to bring our technology to more industries and help organisations reduce bottlenecks and free their expert teams from arduous manual tasks, unlocking their vast untapped potential."
— Ben Peters, Co-founder and CEO
Series A
£17.5M

The financing round was led by Notion Capital with backing from Shapers, Semapa Next, and existing shareholders.

"Ferovinum’s platform leverages technology to give small and mid-sized players in the drinks industry access to funding, and an integrated set of supply chain services. In this way they enable their customers to compete more effectively with the large corporates and, ultimately, to unlock growth. We couldn’t be more excited to invest in this industry disruptor."
— Jos White, General Partner
Seed
£1.3M

The investment round was led by Haatch Ventures and Notion Capital to support marketplace growth and new product development.

"With the hospitality sector facing unprecedented challenges, we believe our mission to help every pub and bar maximise their potential with live music is more important than ever. Our platform has already helped hundreds of venues improve customer satisfaction, drive footfall and increase sales while giving thousands of artists an easier way to earn money gigging. We’re just getting started and the investment announced today will help bring the benefits of live music to more communities in towns and cities across the UK."
— Michael Forster, CEO
Pre-Seed
£1.2M

The pre-seed round was led by Concept Ventures with participation from Pact VC, Notion Capital, and Nodes Ventures.

"It’s always exciting when we hear about entrepreneurs who have landed on a truly untapped market. That’s what the team at Symbe has done. Every single company in the world is selling something. But very few have explored how AI and machine learning can turbocharge that process, whilst protecting the trust and personalisation that ultimately help teams win. Symbe’s technology will usher in a new frontier when it comes to how companies position their offering and ultimately close deals. We’re very excited to back this talented trio of founders at the beginning of their journey."
— Oliver Kicks, Partner
Series A
£19.0M

The funding follows regulatory approval for the Banking as a Service platform to exit mobilisation.

"This pivotal moment is only possible because of the support of our investors, the guidance from our regulators and the commitment of our people. A big thank you to all our existing investors and a warm welcome to all our new investors. We look forward to working with all our investors in this exciting new chapter for Griffin"
— John Weguelin, Board Chair
Seed
£3.8M

Hoxton Ventures led the seed financing round for the London-based software developer.

"Cadent is dedicated to leading the gas industry in the UK and globally in managing gas escapes more effectively. Our focus is on ensuring safety, reliability, and efficiency for the ultimate benefit of our customers. Cogna’s rapid delivery of innovative software solutions, are proving to be key to this approach. Their technology will enable us to respond more quickly and effectively, marking a pivotal shift in our operations. We see this approach as the future of the industry, where speed, efficiency and performance for customers are paramount."
— Richard Sansom
Series C
£26.7M

Morgan Stanley Expansion Capital led the Series C round, which will fund international expansion and product development.

"Despite one of the toughest fundraising environments for tech companies in the recent past, this funding round was significantly oversubscribed. Vortexa has doubled its valuation since its Series B funding round in 2021 and, having grown three times faster than the median SaaS business over the last year, is near profitability with an immense untapped market opportunity ahead. It is truly a privilege to partner with Morgan Stanley Expansion Capital. We have been extremely impressed with the caliber of the team, who saw past the complexity of the industries Vortexa serves and recognized our unique opportunity to create value and impact globally. I am excited to work with the Expansion Capital team to build the future of the company."
— Fabio Kuhn, CEO
Pre-Seed
£1.2M

Concept Ventures led the pre seed financing round to support the artificial intelligence platform.

"HR and People teams are responsible for so many vital things – from culture to compensation. But too many colleagues see them as just a route to key information, like their payslips and P60s. This means HR teams are drowning in fiddly, low-value admin tasks. Harriet AI is freeing them from this burden; allowing HR teams to focus on their real purpose and show how valuable their role in a company really is."
— Cecily Motley, CEO
Pre-Seed
£3.8M

The pre-seed round was backed by investors including firstminute capital and Tuesday VC.

"Building my first startup straight out of university and scaling it to a team of over 500, I knew we had to become an effective learning organization. Yet I couldn’t find a simple way to equip our teams with the learning opportunities they needed to continuously grow their skills, learn more, and move faster."
— Husayn Kassai, Founder and CEO
Seed
$6.0M

The seed round was led by Wing VC with participation from Notion Capital, Seedcamp, Connect Ventures, and Tiny VC.

"The companies that win big in the next decade will be those that proactively build closer, more authentic relationships with their user community. Outverse will offer companies a complete ecosystem for staying close to their customers, enabling a new generation of iconic products and businesses to emerge."
— Kyran Schmidt, Co-founder
Seed
£5.0M

The seed round was led by Notion Capital and Triple Point Ventures to support team growth and clinical service expansion.

"Although there is 8x more spent on assisted reproductive technology (ART, including IVF, IUI, ICSI, etc) in Europe over the US, there are three unicorn companies in the US and none in Europe. It’s clear that there is a massive opportunity for a team with commitment to better outcomes to make a significant impact. We believe we have found this in Fertifa and are excited to see what can be achieved."
— Itxaso del Palacio, Partner
Series A
£11.2M

The investment round was led by Notion Capital and will fund product development and North American expansion.

"In a more challenging software market, SaaS businesses are balancing growth with profitability, making pricing an ever-more valuable lever. Hybrid and usage-based pricing are now firmly in the spotlight because of their ability to deliver better customer experiences while reducing churn and increasing revenue, and as their popularity continues to grow, the opportunity for m3ter is obvious. Today’s funding enables us to take our ambitions to the next level, making new pricing models accessible for every software business that needs them."
— Griffin Parry, CEO and co-founder
Pre-Seed
£1.0M

The London-based B2B sales startup raised £1m in a round co-led by Triple Point Ventures and Concept Ventures.

"In the current economic climate, there is a lot of pressure on CROs and sales teams to ensure revenues are predictable. When it comes to CRM systems, sales representatives can often feel overwhelmed and struggle to prioritise tasks while team leaders become increasingly anxious due to the lack of visibility. All of this can result in winnable deals being lost. With Superlayer’s best-in-class analytics, dashboards and integrations, available out of the box, teams can get hold of pertinent RevOps insights at the click of a button, allowing them to build replicable and successful sales processes."
— Federico Samuelly, Founder and CEO
Seed
£12.5M

The investment round was led by Notion Capital with backing from EQT Ventures and various industry angels.

"We’re thrilled to be working with Notion Capital and to have someone of Stephen’s calibre join our board. His experience fits perfectly with our vision to blend the worlds of banking and technology in one powerful platform,"
— David Jarvis, CEO
Series B
£32.7M

Notion Capital led the Series B round for Hokodo, with participation from continental European and existing investors.

"We’ve been following Hokodo since the beginning and made an initial investment as part of their Series A. We’re delighted to lead their Series B and double down on our support of Hokodo,"
— Patrick Norris, General Partner
Seed
£2.6M

The seed round was led by Notion Capital with participation from Seedcamp and GapMinder.

"Security risks aren’t limited to an organization’s cloud infrastructure. Adjacent components such as third-party software packages used in applications, software development practices, and code repositories are all examples of risk areas in modern tech ecosystems. Most of the time, companies assess risk in each of these areas in isolation, based on skillsets in the team or available resources. The result is a fragmented security function, with no clear understanding where weaknesses lie and what their impact truly is."
— Ovidiu Cical, Co-founder
Series D+
$163M

The Series D round values the payments infrastructure provider at $1.4bn and includes participation from several existing investors.

"The opportunity in software is enormous, with tens of thousands of incredibly innovative businesses bringing great products to market every year. Unfortunately, many SaaS companies still find their growth hindered by the operational challenges that arise when scaling; from handling subscriptions management or tax compliance to localizing payment options in every market. Paddle was created to remove these invisible barriers so that SaaS companies can just focus on building and selling software. 2021 was a fantastic year for us, but we are only just getting started. We have big plans for 2022 and beyond and we’re delighted to have the backing of so many fantastic investors who all share our vision."
— Christian Owens, CEO and co-founder
Series B
$25.0M

The funding round was led by Elefund with participation from multiple venture firms to support expansion into the metaverse.

"We're delighted to have secured this substantial funding round which signifies the start of Admix Phase 2. This funding round validates the incredible hard work which the entire team has worked so tirelessly to reach. We see the internet entering a new stage: Web 3.0 or the metaverse, characterized by real-time 3D interactions and a new creator economy, spearheaded by the video games industry. We are establishing In-Play as the monetization layer for gaming and the metaverse. While many players in our industry are essentially agencies, Admix is building critical infrastructure for creators to monetize their content in the best way possible."
— Samuel Huber, CEO and Co-founder
Pre-Seed
£1.6M

The pre-seed round was led by Speedinvest with backing from high profile angel investors.

"When a world class team of repeat founders builds a well differentiated product in a huge, under-digitized market, it’s a no brainer to partner with them. We’re beyond excited to be on board and look forward to supporting them in building a category leader."
— Markus Lang, Partner
Series B
£50.0M

Target Global led the £50m Series B round to support product development and global expansion.

"The life insurance industry is ripe for transformation. For too many years, life insurance has focused solely on paying out a lump sum upon death. It is now time to reimagine the very nature of life insurance by putting ‘life’ first, and inspiring members to live their best lives every single day, using insurance as a tool to enhance their physical, mental and financial wellbeing,"
— Sammy Rubin
Seed
£3.3M

Notion Capital led the seed investment, which will accelerate product development.

"We believe the Easol team has developed an incredible solution which has become the go-to platform for the world’s best experience creators who are passionate about the experience they deliver every day and not just selling things. Ben’s and Lisa’s deep domain expertise has already translated into rapid commercial growth with high demand that this round will support with more resources in product, marketing, sales and increasing the company’s global footprint. It’s rare for a company at their stage to have such strong signs of product-market fit. In fact, their SaaS metrics are some of the best we’ve ever seen."
— Chris Tottman, Partner
Series B
$19.0M

The financing round was led by monashees with backing from existing investors including Notion Capital, Mosaic Ventures, and Metaplanet Holdings.

"The combination of state-of-the-art technology with energy markets expertise provided by Vortexa is unlocking immense value for our clients, partners and society – our success is a reflection of theirs"
— Fabio Kuhn, CEO
Series C
£25.0M

Sage led the £25m Series C round with a £17m investment and a new commercial partnership.

"As retail businesses from across the globe recover from the impact of Covid-19, trading online has gone from being a ‘nice-to-have’ to a ‘must-have’ for retailers. Digitising back office operations is a critical step towards transitioning to online commerce – and through investing in high growth, cloud solutions like Brightpearl, we are committed to supporting our customers to not only make that switch quickly and easily, but to also grow and compete"
— Lee Perkins, Chief Operations Officer
Series A
£1.1M

The follow on round was led by Turquoise International with backing from the Future Fund and existing investors.

"We are delighted to welcome LCIF2 as an investor in KisanHub. This investment will enable us to grow the business in the UK and Europe and strengthen our links with local and national governments"
— Sachin Shende, CEO & Co-Founder
Series C
£52.0M

The revenue delivery platform has secured £52m in a Series C round led by FTV Capital to fuel global expansion.

"We are witnessing a systemic shift within software, with the ‘growth at any cost’ mindset gradually being replaced by a realisation that businesses must scale more efficiently and with clearer purpose. We’ve been extremely impressed with Christian and Harrison’s ambition and Paddle’s growth to date and we believe they are defining a new category with Paddle’s Revenue Delivery Platform — one that will be critical to helping companies adapt to change while empowering them to take advantage of the huge acceleration in demand for digital products. With more than two decades investing in the SaaS and payments sectors, FTV will bring the best of our domain expertise to accelerate Paddle’s exciting growth."
— Kyle Griswold, partner
Series A
£9.3M

The Series A round was led by Notion Capital with backing from Fitch Ventures and several angel investors.

"The need to digitise operational and non-financial risks is now more important than ever for the financial services sector, with the Covid-19 crisis shedding fresh light on the need for data to manage existing and emerging risks. We are seeing a collective desire from the industry for a solution built on collaboration and sharing of information and Acin’s approach is transformative in its ability to deliver this. This funding will enable us to accelerate our growth to meet the demand and needs of our clients."
— Paul Ford, CEO and Founder
Series A
£2.0M

The London-based digital branding platform secured £2m from Notion Capital, Angel CoFund, and VentureFounders.

"Many years ago we set out to build a platform that would empower programmatic digital trading with levels of creativity not otherwise seen, while baking in as automated features, optimum solutions for real-time fraud management. It has taken a long time but we are truly excited to now be in market with what many say is a game-changing offering. Being able to close a round at this particular time is a testament to that technology offering and the belief shown by existing and new investors alike. I am also thrilled to welcome the Angel CoFund to the business."
— James Booth, Founder & CEO
Seed
£6.7M

The Series A round was led by Notion Capital with participation from Dawn Capital and firstminute Capital.

"Ensuring there are Matrix apps out there which provide a credible alternative to Slack and WhatsApp will make it the natural successor to today’s instant messaging applications. New funding will allow New Vector to keep investing in Matrix products and services that will fuel growth of the network."
— Matthew Hodgson, CEO and Matrix Co-founder
Series A
£10.0M

The financing round was led by Creandum with participation from MMC Ventures, Notion Capital and existing backers.

"It’s been an incredible privilege to work with such a great team building yulife over the past three years and we’re confident that the further funding will allow us to fulfil our vision of making life insurance a force for good. We’re grateful to receive backing from investors with whom we are so deeply aligned, and believe this will help us promote our proposition to inspire lasting, healthy change in people’s lives."
— Sammy Rubin, founder