Wyzr, a fintech startup dedicated to empowering small and micro businesses with cutting edge financial management, has successfully raised £400,000 in its latest fundraise.
The fundraising was propelled following a pitch opportunity at NatWest’s Fintech Demo Day, enabling the business to meet its funding target. The event offered the opportunity for Wyzr’s founder, Ajit Barik, to pitch to a room of potential angel investors and build on the company’s banking relationship with NatWest.
The Fintech Demo Day brought together the top 10 most promising fintech startups on NatWest’s Accelerator programme to showcase their solutions to an audience of potential investors and members of the senior NatWest team. Wyzr’s innovative approach and compelling business model caught the attention of the audience, and, with further support from NatWest post event, Ajit was able to reach his goal of £400,000 in funding to accelerate Wyzr’s growth and development.
Founded by Ajit Barik, Wyzr emerged when he identified a gap in the market for a tool that speaks to business owners in a jargon-free way. The platform helps SMEs better understand their finances and provides calculations in seconds, saving time and preventing cash flow issues. Using his 10-plus years of experience in financial services, Ajit has built Wyzr to the beta stage as the UK’s first AI CFO product.
Wyzr’s relationship with NatWest began with their business bank, before taking it up to the next level when Ajit learned about the NatWest Entrepreneur Accelerator. The NatWest Entrepreneur Accelerator supports UK entrepreneurs and empowers them to scale their businesses to the next level, through coaching, a programme of thought leadership and events, access to a network of like-minded peers and full-time use of a modern co-working space based in Bishopsgate, London. The programme is free for participating businesses and entrepreneurs do not need to give up any equity in their business to take part.
Ajit Barik, Founder of Wyzr, shared: “Our experience with the NatWest Entrepreneur Accelerator has been transformative. The support, mentorship, and especially networking opportunities provided by the programme have been invaluable in helping us refine our business strategy and prepare for successful fundraising.
“This funding is a testament to the necessity for smart finance solutions for small businesses and I am excited to take Wyzr past the beta stage as we continue our mission of empowering SMEs with the financial tools they need to thrive.”
With the newly secured funding, Wyzr plans to enhance their platform’s capabilities, expand their team, and scale their operations to reach a broader audience of SMEs. The company is focused on developing new features that will further simplify financial management and provide even greater value to their users.
NatWest Group is the biggest bank for start-ups in Great Britain, banking around one in five businesses under two years old. The bank’s Accelerator programme, which was recently ranked as the third best start-up hub in Europe for networking2, has supported thousands of entrepreneurs to grow their businesses.
Luke Pamflett, Regional Ecosystem Manager at NatWest, added: “Ajit has demonstrated remarkable innovation and dedication in his work with Wyzr and the approach to supporting other small businesses. We are thrilled to have played a part in Wyzr’s journey and look forward to seeing their continued growth and success as the product develops.”
Entrepreneurs looking to grow and scale their businesses are encouraged to register their interest in NatWest’s Entrepreneur Accelerator by visiting https://www.natwest.com/business/business-services/entrepreneur-accelerator.html
Read the orginal article: https://ffnews.com/newsarticle/funding/ai-saas-platform-wyzr-secures-400000-in-funding-following-natwest-fintech-demo-day/
