Yavrio's Open Banking technology links bank accounts, offering real-time insights and swift, secure transactions. Fuel Ventures led the funding round with a USD 1.9 million investment, joining the group of Yavrio investors.
ERP systems are important as businesses advance in digitisation and automation, contributing to a significant market valued between USD 50 billion and USD 200 billion. However, many of these systems do not integrate banking or payment solutions and continue to depend on manual processes or outdated CSV files. These files lack contemporary security features such as encryption, password protection, and data validation, making them particularly susceptible to breaches. If intercepted or stored incorrectly, sensitive information can be easily compromised, underscoring the urgent need for more secure and efficient alternatives.
Yavrio’s platform allows businesses to link their ERPs directly to banks, eliminating the need for file transfers. It offers real-time financial insights and facilitates quick, secure transactions. By providing direct integration between bank accounts and ERP systems, Yavrio ensures security, mitigates the risks of fraud and errors associated with manual processes and CSV file management, and saves time by automating repetitive tasks, enabling teams to concentrate on high-priority activities.
Currently, Yavrio is connected to over 10,000 banks in the UK, US, Europe, and the Middle East. Its diverse customer base includes governmental organisations, sports teams, cultural institutions, and commercial businesses. The company has also partnered with various charities, enabling them to link more than 250 banks with just a few clicks, an improvement over the lengthy traditional processes required by legacy systems. Originally starting with Microsoft Dynamics 365 Business Central, Yavrio is now broadening its support to additional ERP platforms.
Yavrio's mission is to change the enterprise resource planning industry by removing the risks of errors and fraud linked to CSV file imports. This funding will allow the company to step out of stealth mode and commence its efforts for global expansion.
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