Mimo Raises $8.5M Equity Round and $125M+ Embedded Funding Partnership To Simplify B2B Payments & Cash Flow

Fundraising News
12.03.2025 11:00 am

Mimo, the platform simplifying global payments, cash flow, and financial management for SMBs and accountants, has raised $8.5M of new investment, led by Project A.

Previous investors Northzone and Seedcamp return to participate in this round. Mimo has also arranged an embedded funding partnership with Froda, a leading SMB financing provider, enabling Mimo to provide UK SMBs with $125m+ in flexible working capital solutions over the coming years, with potential for pan-European scalability. Mimo will deploy the new equity funding to continue to build out its B2B payments solution for SMBs and expand its headcount.

Mimo’s platform usage has grown 10x over the last year, servicing hundreds of SMBs and finance professionals and processing hundreds of million in payment volume. The company was founded in 2023 by Henrik Grim (CEO), former General Manager of Europe at Capchase and Investment Manager at Northzone, Alexander Gernandt Segerby (CPO), and Andreas Meisingseth (CTO), all formerly of iZettle. Mimo has offices in London and Stockholm.

One single platform to Understand and Control Cash Flow

Mimo, short for ‘Money In, Money Out’, provides a suite of financial tools that helps SMBs and their accountants & bookkeepers save time and improve control of cash flow. By automating invoice processing, payments and bookkeeping, and by including effortless collaboration workflows, users enjoy less financial admin, while an embedded credit line in Mimo Flex gives SMBs better control of cash flow. Rather than relying on a disjointed network of applications including house banks, SaaS tools and FX brokers to manage finances, Mimo combines these into a single tool for businesses and finance professionals to manage all things payments & cash flow.

Since its public launch in April 2024, Mimo has expanded its product suite, allowing larger businesses and accounting firms to automate and take control of accounts payable, while also launching Get Paid, an accounts receivable solution that ensures businesses get paid faster with automated payment reminders, digital statements, and flexible payment methods for customers.

Mimo is also launching Fetch, an invoice capture and bookkeeping automation tool, which is currently being rolled out among existing customers. Unlike incumbent OCR solutions, Fetch leverages new advancements in AI technology to automate document collection and bookkeeping, removing the consistent pain for both businesses and their accountants & bookkeepers in chasing missing documentation to keep books up to date.

Mimo is currently being used by growing businesses like protein breakfast brand Surreal, luxury mens- and womenswear brand Wales Bonner, and canned beans brand Bold Bean, as well as leading accounting firms supporting the SMB economy, like PM+M, TC Group and Green & Purple.

Henrik Grim, co-founder and CEO of Mimo, comments: “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.”

Also joining Mimo’s board, Malin Posern, Partner at Project A, comments: “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.”