SMB financial management platform Mimo raises $8.5 million equity round and agrees Froda tie up

Mimo, a platform that aims to simplify global payments, cash flow, and financial management for SMBs and accountants, has raised $8.5 million 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 SMB financing provider, enabling it to provide UK SMBs with $125 million+ 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.

It 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. It has offices in London and Stockholm. 

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

Grim comments: “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.” 

Jessica Schultz, Partner at Northzone, comments: “Less than a year on from first investing in Mimo, we are looking forward to deepening our partnership with this latest funding round. Having been incredibly impressed with the progress and pace of execution these last months, we are excited to double down and continue backing the Mimo team.” 

2025 RTIH INNOVATION AWARDS

Payments will be a key focus area at the 2025 RTIH Innovation Awards.

The awards. which will open for entries in March, celebrate global tech innovation in a fast moving omnichannel world.

Our 2024 hall of fame entrants were revealed during an event which took place at RIBA’s 66 Portland Place HQ in Central London on 21st November, and consisted of a drinks reception, three course meal, and awards ceremony presided over by comedian Lucy Porter.

In his welcome speech, Scott Thompson, Founder and Editor, RTIH, said: “The event is now into its sixth year and what a journey it has been. The awards started life as an online only affair during the Covid outbreak, before launching as a small scale in real life event and growing year on year to the point where we’re now selling out this fine, historic venue.”

He added: “Congratulations to all of our finalists. Many submissions did not make it through to the final stage, and getting to this point is no mean feat. Checkout-free stores, automated supply chains, immersive experiences, on-demand delivery, next generation loyalty offerings, inclusive retail, green technology. We’ve got all the cool stuff covered this evening.”

“But just importantly we’ve got lots of great examples of companies taking innovative tech and making it usable in everyday operations - resulting in more efficiency and profitability in all areas.”

Congratulations to our 2024 winners, and a big thank you to our sponsors, judging panel, the legend that is Lucy Porter, and all those who attended November's gathering. 

For further information on the 2025 RTIH Innovation Awards, please fill in the below form and we will get back to you asap.