Sweep, a UK-based expense and travel management for SMEs, is now seeking £125,000 through its newly launched equity crowdfunding campaign on Seedrs. The launch of the funding round comes just after Sweep received a £456,000 Innovate UK funding grant.
Founded in 2017, Sweep states it helps businesses automate highly manual and time-intensive processes, dramatically cutting costs and increasing productivity in the meantime.
“As SMEs slowly start recovering from COVID-19, moving away from manual, time consumming and error prone processes will be a top priority. This is where Sweep comes in. The first tool we launched, Sweep Expenses, is an expense management tool that relies on Open Banking. Our technology is able to automate the entire expense management flow from capture to expense report, all while detecting fraud in real time.”
While sharing more details about the company’s platform, Billel Ridelle, Founder and CEO at Sweep, stated:
“We want to continue using the power of Open Banking technology to drive innovation and help SME’s gain better insight, visibility and control over where their money is going. This means not only doubling down on our Sweep Expenses management tool but also developing new products and services that manage bills, invoices, and cashflow.”
The Seedrs campaign’s funds will be used for the following:
- Accounts payable
- VAT Returns
- Financial Reporting
- Fraud detection
The campaign is set to close in December.
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