Futrli — Our Investment into a Future Category King
At firstminute, we’re thrilled to announce our investment in Futrli as part of a £4m round alongside our friends from e.ventures and Notion Capital.
Futrli provides an all-in-one cloud-based accounting and forecasting platform for small businesses, and the accounting firms that support them. The founder Hannah Dawson’s empathy for her users stems from the forecasting and accounting pains she experienced running her first business. Realising she wasn’t alone in the need to be able to make decisions in real time and to be able to see where your business is going, she drew on these experiences to revolutionize the way SMBs and accountants glean insights and plan for tomorrow. Today, Futrli is already supporting over 40,000 businesses and 1,100 accountants across 130 countries. Hannah’s infectious energy has helped to build an amazing team who have achieved all of this despite the business being bootstrapped prior to this raise.
Futrli is on a path to trailblaze a new software category, which they refer to as ‘Future Intelligence’. Business Intelligence looks to the past, but small business teams don’t have Enterprise business analysts to help them get on top of their numbers. To run a successful business, irrespective of size, you have to know where you’re going. Small business teams just want to make decisions that affect their businesses today and tomorrow and then take the next obvious action. We believe this can be a category-defining SaaS platform.
Beyond small businesses, the Futrli team and platform, works with accountants to help them become profitable in the advisory space: helping them create actionable business plans for their clients by taking those forecasting insights and facilitating informed decision-making.
Futrli is targeting the global SMB market of almost 55 million potential clients and a total addressable market of $33bn across the US, EU and Oceania.
Unsurprisingly, Hannah is attracting a rockstar board. Giles Palmer, CEO of Brandwatch, has been appointed as Chairman, with firstminute’s Henry Lane Fox, Notion’s Jos White, and e.ventures’ Christian Miele joining as board members.
