Financial automation platform Aurelia has raised $3 million in seed funding, led by Blossom Capital. Billing itself as a sort of “IFTTT for finance” aimed at small businesses that want to integrate their bank accounts with financial tools; Aurelia says this then gives them greater control over cash flow, taxes, etc., to automate typically manual tasks, with no knowledge of code needed.
Angel investors include Guillaume Pousaz (Founder & CEO at Checkout.com) through his Zinal Growth investment vehicle and Erez Mathan (ex-COO and CRO at GoCardless).
Aurelia was founded by Sebastian Trif, one of the first engineers at Transferwise, Jasper August Toes, and Dragos Apostol. Trif said: “We see lots of fintech apps and banks that try to capture everything a business has, but many small businesses aren’t keen on moving their company’s financial life into a new product.”
Ophelia Brown, the founder of Blossom Capital, said: “As a small business owner ourselves, we know first-hand how painful and broken it is for SMEs to manage their finances and accounts. After searching for years for the right solution, we committed to Aurelia on the spot.”
Trif added: “On a feature-by-feature basis, we’re competing with established packs of plugins you must have on tops of your accounting software like Xero and Quickbooks. We’re also competing with smart SME banking solutions, such as Tide, Revolut for Business, and Wise for Business, which have more limited features.” Aurelia’s beta platform is now going live in Estonia, Romania, Germany, and the UK.