Mimo, a UK-based financial management platform for SMBs and accountants, has secured $8.5 million in funding in an equity round led by Project A, with participation from Northzone and Seedcamp. The company has also partnered with Froda, an SMB financing specialist, to provide over $125 million in flexible working capital solutions for UK businesses, with plans for expansion across Europe.
Short for “Money In, Money Out,” Mimo simplifies global payments, cash flow management, and bookkeeping. The platform enables automated invoice processing, payments, and accounting, while offering an embedded credit line to improve cash flow control.
Since its public launch in April 2024, Mimo has expanded its offerings, introducing tools for accounts payable automation and launching Get Paid, an accounts receivable solution with automated reminders, digital statements, and flexible payment options. The company is also rolling out Fetch, an invoice capture and bookkeeping automation tool, to its customer base.
CEO Henrik Grim emphasized Mimo’s customer-driven approach, stating: “At Mimo, we’ve been continually learning from these conversations to iterate and improve the platform to help both Accountants and SMBs save time, save money, and control their cash flow.”