Yavrio Raises $2.4m to Revolutionize ERP Systems
Deal News | Jan 29, 2025 | UK Tech Funding
London-based fintech startup Yavrio has successfully raised $2.4 million in a seed funding round, spearheaded by venture capital firm Fuel Ventures. The startup aims to modernize the enterprise resource planning (ERP) space by eliminating the reliance on outdated and vulnerable CSV files, which many ERP systems still use. These CSV files lack modern security measures, thus posing significant risks for fraud and data breaches. Yavrio offers a platform that connects businesses' ERP systems directly with banks, providing real-time financial insights and the ability to execute secure transactions. This funding round demonstrates a growing interest in innovative fintech solutions that enhance operational efficiencies and security in financial management. Among the notable investors in Yavrio are Sir Sajid Javid, former Chancellor of the Exchequer, and Garth Ritchie, former President of Deutsche Bank. Fuel Ventures' Partner, Oli Hammond, expressed confidence in Yavrio's potential to lead industry transformation.
Sectors
- Fintech
- Enterprise Resource Planning (ERP)
Geography
- United Kingdom – Yavrio is a London-based company, and the investment activities and market efforts described in the article are centered in the UK.
Industry
- Fintech – Yavrio is classified within the fintech sector because it provides technology-driven solutions that enhance financial processes, such as its real-time ERP-bank integration for secure financial operations.
- Enterprise Resource Planning (ERP) – Yavrio's solutions target the ERP industry by addressing the need for modernized processes and improved security, eliminating the outdated CSV file method prevalent in many ERP systems.
Financials
- $2.4 million – The total amount raised by Yavrio in its seed funding round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Yavrio | Target company | Company | A fintech startup focused on modernizing ERP systems by providing direct integration with banks for secure and efficient financial management. |
| Fuel Ventures | Venture Capital Firm | Company | The lead investor in Yavrio's $2.4 million seed funding round. |
| Sir Sajid Javid | Investor | Person | Former Chancellor of the Exchequer and an existing investor in Yavrio. |
| Garth Ritchie | Investor | Person | Former President of Deutsche Bank and an existing investor in Yavrio. |
| John Lewis | CEO | Person | Chief Executive Officer of Yavrio, overseeing the company's efforts to modernize ERP systems. |
| Oli Hammond | Partner | Person | Partner at Fuel Ventures, involved in the investment decision for Yavrio. |