Payments Fintech Apron Secures £12M via Series A to Assist SMBs, Accountants

Bogdan Uzbekov, founder & CEO, Apron, notes that he’s pleased to announce that Apron has raised £12M in a Series A funding round, which was reportedly “led by Index Ventures, with participation of their existing investors, Bessemer Venture Partners and Visionaries Club.”

And with the close of this investment round by Apron, they will focus on working on “a way to radically scale up their mission to reinvent how businesses make payments.”

Apron claims that it “has proven itself to be a game-changer for SMBs and the boutique accountancy firms they work with.”

With this investment, they’ll now be able “to transform the workflow for larger practices handling hundreds of clients, thousands of transactions, and billions of pounds.”

As their investor at Index Ventures, Partner Jan Hammer explains:

“The needs of SMBs have been ignored for too long. Bogdan’s team have realized that if you build an amazing product, it will spread organically and at speed among small businesses and accountants.”

Apron launched their beta in March 2023 “to change the way businesses pay for things.”

Apron lets business owners and their finance partners “sort, pay and reconcile invoices: with no complex onboarding, no room for error, no need for bank access and absolutely no time wasted.”

They’ve seen steady growth in their first few months, “driven by a new wave of accountants hungry for innovation.”

Their next step will be to “make that difference, but on a dramatically larger scale. With the new funds, we’ll deepen and widen our product suite.”

Today, they’re announcing two major updates that will place Apron “at the heart of the critical infrastructure which larger accountancy practices rely on to keep business booming.”

The new home for all things payments; “especially for big teams handling transactions for lots of different businesses.”

Apron Hub pulls together your clients and tasks, so you “can see them all in one place, and manage them in one go.”

Apron Hub lets you:

  • Add your team members, and assign them roles and clients.
  • See all pending tasks on a page. So nothing gets missed, and you can spot sticking points before they turn into roadblocks.
  • Set up workflows. Let’s say there’s a standard chain of approvals that has to happen every time you pay a bill. Set up that flow in Apron Hub, and apply it to all bill payments across any number of clients — three or three-thousand.

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