Apron

History

2023: Raising $14.9 million in investments

At the end of September 2023, the British fintech service Apron announced a Series A funding round, during which £12.3 million was raised for development (approximately $14.9 million at the exchange rate as of October 3, 2023). The investment program is led by Index Ventures with input from Bessemer Venture Partners and Visionaries Club.

Startup Apron was registered in Britain in 2021 by Russian Bogdan Uzbov, a former head of Revolut's grocery business. Apron has developed a b2b application with a set of tools that allow you to conveniently manage finances and accounting. The main task of the solution is to reduce the time that small businesses spend on processing accounts.

Apron founder Bogdan Uzekov (right)

The Apron service became available in March 2023. By the beginning of October of this year, the fintech platform works with hundreds of client companies and thousands of payment recipients. The monthly volume of transactions is in the millions of dollars. Apron's unique approach is to completely rethink the process of passing payments through the user network and put customer needs at the center of the product. Apron has created an advanced platform for small and medium-sized businesses that supports almost any payment scenario. Instead of replacing existing accounting software, Apron integrates into existing workflows to reduce task times from hours to minutes.

Apron plans to use the funds received during the Series A funding round to expand the team of specialists, which already includes developers from Meta (recognized as an extremist organization; activities in the Russian Federation are prohibited), Revolut, Square and Yandex. The investment will allow you to scale the project and offer the service to larger customers.^[1]

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