UK finance software company Yordex gets GBP 500k funding

Tuesday 26 February 2019 10:55 CET | News

UK-based fintech Yordex has raised GBP 500,000 from lead investor Bloc Ventures to develop its finance software.

Yordex was founded in 2017 by former Worldpay executives, aimed at businesses with a turnover of GBP 1 million to GBP 100 million and has developed a finance portal with features including budget management, invoice central and cash management, for spend control, cash flow management, and reduced processing costs.

According to Bloc Ventures, the company has outgrown Software-as-a-Service (SaaS) finance software solutions like Xero, but moving to a traditional ERP system is expensive, time consuming and will slow them down. Yordex allows them to remain agile while putting in place the processes, controls and visibility a company of their size needs.

Yordex says its software connects to bank accounts and existing accounting systems to manage all data exchange. The funds will be directed into building sales and marketing teams.

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Keywords: Yordex, funding series, funding round, Bloc Ventures, UK, fintech, financial services, spend management, Europe, financial technology
Countries: World