Hambro Perks backs Previse
Previse, a start-up which uses AI technology to address the problem of late payments for small firms, has been backed by UKBAA member Hambro Perks in a £5.3m Series A financing round led by Augmentum and including Bessemer Venture Partners.
Previse offers tools and incentives for multinational businesses to pay suppliers as soon as they receive an invoice, potentially helping SME’s avoid cashflow issues associated with delayed payments.
Previse co-founder David Brown said: “Failing to pay on time for the goods and services is not only morally wrong, it makes no commercial sense.
“It drives up the cost of business for SME (small and medium enterprise) suppliers which, in the end, will feed through into purchasing costs for buyers.
“After all, there is no such thing as free money.”