Viable, a UK-based fintech startup, has closed its seed funding round, securing £2.4 million to develop financial technology solutions specifically designed for online and multi-channel merchants. The funding round follows an earlier pre-seed investment in 2023 and involved participation from prominent names like Episode 1, Haatch, Portfolio Ventures, and angel investors including Martin Brailsford, former CEO of e-commerce group Internet Fusion.
Earlier this month, P . What problem is Viable solving Viable is focused on building “verticalized finance technology,” aiming to streamline financial operations and optimise working capital for the growing number of online businesses selling through platforms like Shopify, Amazon, and TikTok. These businesses, according to Viable, face a unique set of financial challenges due to the post-pandemic landscape.
Factors like changes in the debt and equity landscape, rising costs, and increased competition are putting pressure on their financial performance. Leveraging open banking and AI for optimised finance Viable launched an initial version of its technology in 2023, specifically targeting businesses in the fashion, beauty, and health & wellness sectors. The company claims early success and plans to utilise the seed funding to accelerate the development of embedded finance products, potentially increasing accessibility for merchants.
Viable’s technology leverages advancements in open banking, payments, and AI infrastructure to .
