Bracket, a financial management platform designed for mid-market businesses, has raised $7m (£5.1m) in seed funding.
The London-based fintech was founded to offer mid-size businesses an alternative to spreadsheets and manual processes to manage foreign exchange (FX) exposure, cash visibility and bank connectivity.
Bracket’s AI-powered platform is used to centralise bank accounts and automate FX workflows.
“Mid-market companies are being held to the same standard as the biggest corporates but they don’t have access to the same tools, leaving many to struggle with outdated systems and processes,” said Pierre Anderson, Bracket co-founder and co-chief executive.
“Bracket automates that operational layer using AI to give teams real-time visibility and control over bank data and key information, all within one platform. This funding allows us to continue on our growth trajectory and scale our products internationally.”
The round was led by Macquarie Group and Blackfinch Ventures with participation from Failup Ventures.
“Macquarie is pleased to back Bracket with both financial and strategic support as it builds an AI-native treasury platform for mid-market businesses,” said Tom Haigh, managing director at Macquarie Group.
“The team has vast experience and have created a highly valuable tool, that helps process fragmented financial data with real-time visibility, automation, and control. The Bracket platform enables us to service our customers more efficiently, and we’re excited to support the next stage of its growth.”
