Bourn Closes £1.5M Seed Round to Transform SME Finance
Deal News | Mar 06, 2025 | Business Cloud
UK-based FinTech company Bourn, founded in 2022, has successfully raised £1.5 million in seed funding to revolutionize the Small and Medium Enterprises (SMEs) finance landscape in the UK. The London-based firm seeks to tackle the cash flow challenges faced by UK SMEs through its flexible trade account (FTA) offering. Bourn partners with banks and lenders, providing a white-label solution designed to help financial institutions grow portfolios, mitigate risk, and optimize returns. The funding round was spearheaded by Haatch, with contributions from Love Ventures, Portfolio Ventures, and Aperture, alongside private investors. Prominent FinTech executive and ex banker Leda Glyptis was named as the new non-executive board member. CEO Nick Tracey emphasized Bourn’s mission to simplify cash flow management with innovative solutions that instill confidence in businesses. Marcus Love of Love Ventures commended Bourn for its savvy approach to problem-solving in SME finance. This influx of capital strategically positions Bourn to take significant strides in transforming the financial accessibility landscape for UK SMEs.
Sectors
- FinTech
- SME Finance
Geography
- United Kingdom – Bourn is a UK-based FinTech company, and the article focuses on its initiatives to transform SME finance within the UK.
Industry
- FinTech – The article discusses a financial technology company focused on providing innovative financial solutions for SMEs, which falls under the FinTech industry.
- SME Finance – The focus of Bourn's product is on improving cash flow management for SMEs, categorizing it under SME Finance.
Financials
- £1.5 million – The total amount raised in Bourn's seed funding round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Bourn | Target Company | Company | A UK FinTech firm aiming to revolutionize SME finance with innovative financial solutions. |
| Haatch | Lead Investor | Company | A leading investment firm that led the £1.5 million seed funding round. |
| Love Ventures | Investor | Company | A venture capital firm specializing in FinTech investments, participated in the funding round. |
| Portfolio Ventures | Investor | Company | A venture capital firm that participated in the seed funding round. |
| Aperture | Investor | Company | A venture capital firm contributing to the seed funding round. |
| Leda Glyptis | Non-Executive Board Member | Person | Experienced FinTech executive and former banker appointed to Bourn's board. |
| Nick Tracey | CEO | Person | CEO of Bourn, leading the company’s mission to innovate SME finance. |
| Marcus Love | General Partner | Person | General partner at Love Ventures, an investor in Bourn's funding round. |