London open banking startup Armalytix helps SMEs improve their financial planning with £ 1.25million in funding

London’s open banking platform, Armalytix is ​​transforming the way businesses interact with their customers. Now the company has announced that it has closed a £ 1.25million fundraiser, bringing the total funds raised by the fintech to £ 2.79million.

Investment to expand relationships

The investment came from Brian Schweiger, former Global Head of Equities at LSE and Jon Beebe, former Global Head of Equities at Barclays. It was also supported by personalities from the banking and financial world, who have all experienced first hand the issues of collecting, compiling and manually analyzing financial data.

Investors fully endorse Armalytix, which aims to help eliminate common problems businesses face with daily financial data sharing.

This investment will be used to fuel Armalytix’s mission to shape a free future for businesses that need information about their customers’ finances. The funding will also allow Armalytix to develop new processes eliminating high cost and time for customers and to expand the range of reports offered into new verticals.

Richard McCall, CEO of Armalytix, said: “This funding will increase our presence in the financial technology world and allow us to extend our tools to other multi-industry environments, including mortgage advisors, games and financial platforms. wealth management. Our investors support our vision to shape the future of financial information sharing, taking Armalytix one step further to revolutionize the way businesses collect and manage banking data in a paperless world.

Bridging the gap between business and finance

Founded in 2019, Armalytix’s primary goal is to replace professional and financial services forms and documents for fast, secure and accurate data sharing. This powerful tool is reshaping the way accounting and legal firms work, reducing the time traditionally spent collecting data to save hundreds of hours of work. Ultimately, this saves time, increases compliance, improves accuracy, and improves safety.

Armalytix’s sophisticated software solves the problems associated with blurry photocopied statements, missing data, and unsecured csv files, all of which present issues of convenience, security and authenticity. It gives businesses the analysis they need to interpret data. For Armalytix, formless financial management powered by Open Banking is the solution.

With Armalytix, accountants, finance and legal professionals can request financial data and analysis directly from their clients’ bank accounts, for specific dates spanning multiple years. Currently, it is the only service offering a combined service of bank statement verification, financial data recovery and source of funds reporting, all streamlined on a single platform.

It is a simple and reliable alternative to conventional data collection methods. He was a finalist for the Open Banking Expo awards, alongside companies such as Starling and HSBC.

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