London-based fintech company Viable has secured a £2.4 million seed funding round from Episode 1 Ventures, Haatch, and Portfolio Ventures. This investment will enable Viable to enhance and expand its financial solutions tailored for e-commerce businesses.
- Founded in 2023 by Franklyn Martin, Steven Haynes, and Henry Young, Viable develops an AI-powered finance platform designed for D2C, multichannel, and wholesale commerce brands. The platform integrates online store data with offline sales, inventory, marketing, and operations to provide a comprehensive financial view. This enables users to monitor daily performance, allocate resources effectively, and access funding tailored to their business profile.
- Viable solves finance challenges faced by merchants selling products on platforms like Shopify, Amazon, and TikTok, addressing rising costs, increased competition, and pressure on financial performance.
- In 2023, Viable raised a pre-seed funding round with the same investors as the current round, including Episode 1 Ventures, Haatch, and Portfolio Ventures.
Details of the deal
- The current funding round was backed by London-based Episode 1 Ventures, a VC firm that invests in pre-seed and seed B2B software startups, with investment sizes ranging between £500,000 and £3 million.
- The investment in Viable was also supported by Haatch, a venture capital firm that funds B2B SaaS companies, and London-based VC Portfolio Ventures, which invests in fintech, insurtech, B2B SaaS, and enterprise software companies with investment sizes ranging between £100,000 and £500,000.
- Several business angels also joined this funding round.
“This is an important milestone in our journey to solve a growing finance challenge for merchants, we'll continue to focus on helping DTC founders and brands achieve their financial goals and I'm excited to start sharing more on this,” Co-founder at Viable, Franklyn Martin, stated.
- With the £2.4 million raised, Viable plans to further develop its finance product, which aims to enhance merchant accessibility.
