Total amount raised
$28 Millions
Latest funding date
Location
Mimo has successfully raised $8.5 million in an equity round, along with securing a $125 million embedded funding deal with Froda. The platform is designed to streamline business payments, offering features like automated accounts payable and receivable, working capital access, and bookkeeping automation.
Keep reading to explore the intricacies of Mimo's fundraising journey and the investors backing this innovative fintech platform.
What Is Mimo?
Mimo, founded in 2023, is a fintech company based in London, England. The company was established by Alexander Segerby, Andreas Meisingseth, and Henrik Grim.
Operating within the finance, financial services, and software industries, Mimo focuses on providing streamlined financial solutions for SMEs, accountants, and bookkeepers. The platform supports global payments, cash flow management, and integrates with accounting software to enhance financial oversight.
With an employee count ranging from 11 to 50, Mimo offers features such as automated accounts payable and receivable, access to working capital, and real-time financial reporting, aiming to improve efficiency and accuracy in financial operations.
How Much Funding Has Mimo Raised?
- Venture Round
- Amount Raised: $8.5 million
- Date: March 2025
- Lead Investors: Project A Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop Mimo's B2B payments solution and expand the team.
- Series A
- Amount Raised: $15.5 million
- Date: April 2024
- Lead Investors: Northzone
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product offerings.
Total Amount Raised: $24 million. Current Valuation: Not publicly disclosed.
Key Investors
- Project A Ventures
- Details: Project A Ventures is a European early-stage tech investor with offices in Berlin and London. Founded in 2012, the firm manages $1 billion in assets and has invested in over 120 startups.
- Investment Focus Areas: Early-stage technology companies, digital transformation, innovation.
- Notable Investments: Trade Republic, WorldRemit, Catawiki.
- Northzone
- Details: Northzone is a global venture capital fund founded in 1996, with hubs in London, New York, Amsterdam, Berlin, Stockholm, and Oslo. The firm has raised more than 10 funds and invested in over 175 companies.
- Investment Focus Areas: Technology-driven companies, fintech, healthtech, SaaS.
- Notable Investments: Spotify, Klarna, Trustpilot.
- Seedcamp
- Details: Seedcamp is a European seed fund that invests early in world-class founders attacking large, global markets. The firm is known for supporting early-stage startups in the tech industry.
- Investment Focus Areas: Early-stage startups, technology, digital sectors.
- Notable Investments: TransferWise (now Wise), Revolut, UiPath.
What's Next for Mimo?
Mimo's future looks promising with significant opportunities on the horizon. The company is poised to expand its B2B payments solution and leverage a $125 million embedded funding partnership with Froda to provide flexible working capital to UK SMBs. This partnership has the potential for pan-European scalability, opening up vast markets and growth avenues.
As Mimo continues to grow, future fundraising opportunities are likely, supported by existing investors like Project A, Northzone, and Seedcamp. The company's rapid growth and ambitious plans suggest that additional funding rounds could be anticipated to support further expansion and development.
However, Mimo will face challenges such as scaling operations, integrating new financial tools, and navigating regulatory requirements across different European markets. Maintaining service quality and customer trust while expanding will be crucial for sustained success.
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