What is Fluidly?
As one of our partners and a real innovator in the world of cashflow forecasting, we’re thrilled that Fluidly were able to join us at our Bigger, Better, Faster event held at Haydock Park Racecourse on 11th June 2019.
The company helps business owners and their financial advisors sleep better by providing control, certainty and confidence around cashflow. Fluidly automatically forecasts cashflow using AI, providing visibility of a business’ financial future.
Cashflow is the single biggest pain point for SMEs, with 80% of small business failure due to cashflow issues. Historically, cashflow management has been stressful, time-consuming, theoretical and expensive, relying on Excel spreadsheets that are quickly out-of-date.
Fluidly provides the only AI-powered cashflow forecast that requires no modelling whatsoever, using transaction-level detail to produce an accurate financial prediction in minutes. By connecting to accounting software like Xero or QuickBooks and analysing bank transactions hourly, Fluidly is always current. It does the data heavy lifting, empowering accountants to provide well-informed advice and giving businesses their time back, so they can make better decisions.
How does it work?
Fluidly’s AI specialises in the complex, non-linear nature of calendar-based time series data, essential for business forecasting. By leveraging time series modelling in a unique way, it’s transforming the lives of small business owners.
With Fluidly, SMEs can avert disaster, take earlier action and save money on overdraft fees and business finance. Most of all, thanks to AI, they can access critical information previously unavailable to them. Fluidly is already connected to thousands of businesses.
Who founded it?
Fluidly was launched in 2016 by Caroline Plumb OBE, who co-founded FreshMinds, now innovation consultancy decidedly and recruitment consultancy FreshMinds Talent, where she remains Chairman and Non-Exec Director.
Caroline’s own experiences growing a company, especially the undue stress caused by cashflow, inspired her to create an entirely new solution. In the years since its launch, Fluidly has built strong partnerships within the financial ecosystem, including major accounting software providers and nine of the top 25 UK accounting firms.
Fluidly has raised over £7M in funding from a range of prominent financial technology investors. Nyca Partners, a venture capital firm focused on applying innovation in financial services, led Fluidly’s series A round in October 2018, alongside Octopus Ventures, Anthemis and tech angels Simon Murdoch and Charlie Songhurst. Fluidly is using the new funding to expand its team of engineers and data scientists working to advance the product.
Want to find out more about Fluidly?
Speak to Stuart Hurst our director of cloud accounting at the UHY Hacker Young Manchester office via email on email@example.com or call him on 0161 236 6936.