€18 million investment boosts Mimo’s mission to simplify SMB finances

The Mimo team. Image credit: Press photo.

Swedish financial management platform, Mimo, has secured €18 million in funding from Northzone and other investors.

This capital injection aims to fortify Mimo’s business-to-business (B2B) payment system for SMBs and finance professionals, and augment their workforce.

Founded by Henrik Grim, Alexander Gernandt Segerby, and Andreas Meisingseth in 2023, Mimo offers a comprehensive suite of tools for SMBs to manage their money inflows and outflows.

Based in London and Stockholm, Mimo manages transactions totaling millions of pounds each month on behalf of its small and medium-sized business clients.

In today’s market, small businesses often rely on multiple applications for different financial tasks, leading to time-consuming management and reconciliation challenges.

Mimo provides a unified solution, allowing businesses, accountants, and bookkeepers to manage all their financial operations through one tool.

Mehdi Ousahla, a partner at Fost Ventures, shares his optimism about Mimo’s capacity to revolutionize financial administration for small and medium-sized businesses (SMBs), showing great excitement for the inventive methods employed by the team. “We are thrilled to invest in this visionary team as they disrupt the industry and rethink the way SMEs handle their financial tasks.”

We have been extremely impressed by the vision, the product execution and the sophistication of the Mimo team. We are very proud to support their continued growth.

Mehdi Ousahla

Enabling efficient financial transactions between Europe’s vast network of small and medium-sized enterprises (SMBs) is crucial, as these businesses generate a significant 50% of the European Union’s economic output. Ensuring that funds move seamlessly among them is vital for their continued growth and success in today’s competitive marketplace.

Mimo’s groundbreaking financial management platform is specifically designed to streamline processes for businesses operating within sectors characterized by high invoicing frequencies and multifaceted currency needs, addressing the common struggles they encounter in effectively managing their financial transactions.

Techarenan News/Monok

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