Germany-based fintech tidely has announced receiving EUR 3.5 million in seed financing.

The fintech is developing an AI-based, digital platform that small and medium-sized enterprises (SMEs) can use to get an overview of their liquidity situation in real-time and have future forecasts and decision-based liquidity scenarios calculated. TX Ventures is the lead investor in the seed financing of EUR 3. 5 million, and several existing investors are participating again.

tidely will use the funds to further develop its product, expand marketing and sales channels, and strengthen its team. Bayern Kapital, an investor in the German high-tech financing landscape, has taken a stake in tidely. tidely was founded with the aim of optimising liquidity planning for SMEs.

So far, many medium-sized companies have been using tools such as Excel, which can encourage human error due to their complexity and manual handling. As stated by Fundscene, iquidity planning is important for companies, seeing as if investments are approved on the basis of incorrect liquidity assumptions, there may no longer be sufficient reserves to cushion external shocks. Use of AI by tidely By using artificial intelligence, tidely reduces many of the potential sources of error in liquidity planning.

The digital platform provides all the liquidity insights users may need in real-time to aid in making well-founded decisions and, if necessary, initiate stabilisation measures. All data can be exported as a report at any time. In addition, the platform enables its users to calculate liquidity forecasts based on past developments and to quantify the effects of planned investments and other measures on future liquidity in scenario-based sensitivity analyses.

Simplification features Liquidity management can be further simplified and optimised with the automatic categorisation of financial flows, active accounts payable and accounts receivable management, and an AI-based warning system. The platform takes all the required data from the systems used in the company, including ERP, accounting, and banking software. Just under seven months after tidely was founded, it entered the market with a free beta version and now has around 500 small and medium-sized companies among its customers with only 20 employees.

The first financing solutions for emerging liquidity bottlenecks have also already been implemented. Investment and expansion plans According to a tidely representative, the fintech is already planning a Series A round for the first half of 2024. With their new investors and the forthcoming partnership with Banxware, tidely also wants to advance its internationalisation plans.

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