Congratulations to the team at Previse which has closed an $11m funding round led by Reefknot and Mastercard, with Hambro Perks also participating. We led the business’s £2m seed round back in 2017.
Previse allows suppliers to get paid instantly, using artificial intelligence to analyse the data of the corporate buyer to detect the very few invoices that need manual intervention. Payment of invoices by traditional methods often takes months, which is disproportionately damaging to SME suppliers as it reduces their cash flow and limits opportunities for investment and growth. In the current Covid-19 crisis, this is even more relevant and highlights the potential devastating cost of this systemic inefficiency.
George Davies, Partner at Hambro Perks said of the investment: “Having identified the potential in Previse and backing them from day one, we are delighted to continue to support the outstanding team on their mission to get suppliers paid, instantly. This is needed now more than ever and we look forward to welcoming and working alongside Reefknot and Mastercard as we support Previse on this journey.”