London Fintech Startup’s Pitch Deck That Raised Seed Funding
Viable, a London-based fintech startup that aims to help small businesses with finances, has raised $3 million in seed funding.
Founded in 2023, Viable typically works with e-commerce and direct-to-consumer (DTC) companies in beauty, wellness, and fashion to provide clearer data on their finances.
Cofounder Franklyn Martin said these e-commerce businesses were facing a double threat: rising costs and investors turning away from the space.
“We’re working with small, online businesses that are typically founder-led, with small internal finance teams,” Martin told Business Insider.
“After the Covid boom, there has been less equity in the space, meaning the blueprint for DTC businesses has moved from being VC-backed; it’s about growing with leaner teams and better financial performance at the earlier stage while dealing with rising costs from inflation,” he continued.
Viable uses machine learning to tag and match transactions in real time to give businesses a view of their finances and projections of future balances. Users pay a monthly fee ranging from £500 to £1,500 (around $635 to $1,900) depending on the tier they select, which can include access to more to more premium services.
The $3 million in seed funding comes from Episode 1, Haatch, Portfolio Ventures, and a group of angel investors. Funding began in mid-December last year and was finalized by April, Martin said.
Martin said the funding would go toward full-time hires, including a designer, as the company looks to accelerate its product development.
He added that the startup would also use it to develop embedded finance products, allowing users to access credit and lending facilities through the platform.
Check out the company’s 14-slide pitch deck below:
