Mimo, a platform that streamlines global payments, cash flow, and financial management for small and medium-sized businesses (SMBs) and accountants, has secured $8.5m in fresh investment.
The funding round was led by Project A, with participation from returning investors Northzone and Seedcamp.
Alongside this investment, Mimo has formed a strategic embedded funding partnership with SMB financing provider Froda. This agreement will enable Mimo to provide over $125m in flexible working capital solutions to UK-based SMBs in the coming years, with the potential to expand across Europe.
Founded in 2023, Mimo offers a suite of financial tools designed to help SMBs and their accountants manage cash flow efficiently. The platform automates invoice processing, payments, and bookkeeping while integrating workflows for collaboration. Businesses can access embedded credit lines through Mimo Flex, improving financial control without relying on multiple banks, SaaS tools, or FX brokers.
The newly secured equity funding will be used to further develop Mimo’s B2B payments solution for SMBs and expand its team.
Since launching publicly in April 2024, the company has expanded its product suite to serve larger businesses and accounting firms, introducing new tools such as Get Paid, an accounts receivable solution, and Fetch, an AI-powered invoice capture and bookkeeping automation tool.
Mimo co-founder and CEO Henrik Grim said, “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. We look forward to working with new investors Project A and returning investors Northzone and Seedcamp as we strive towards this goal.”
Project A partner Malin Posern, who has joined Mimo’s board, added, “We have been closely following Mimo since their launch out of stealth last year. Since then, the team has continued to push the product from strength to strength to solve a problem that could simplify the working lives of millions of people. We are looking forward to working with Henrik, Alexander and Andreas and the team to continue on the exponential trajectory of the business.”
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