Bogdan Uzbekov, founder and CEO of Apron, has announced that the company has successfully raised £12 million in a Series A funding round. The round was led by Index Ventures, with participation from existing investors Bessemer Venture Partners and Visionaries Club. This new investment will enable Apron to focus on scaling up its mission to revolutionize how businesses make payments.
According to Apron, the company has already proven itself to be a game-changer for small and medium-sized businesses (SMBs) and boutique accountancy firms. With this funding, Apron aims to transform the workflow for larger practices that handle a high volume of clients, transactions, and financial activities.
Jan Hammer, Partner at Index Ventures, expressed his belief in the potential of Apron’s product to meet the needs of SMBs, stating that the team has recognized the importance of building an exceptional product that can easily spread among small businesses and accountants.
Apron initially launched its beta version in March 2023, with the goal of disrupting traditional payment methods for businesses. The platform allows business owners and their finance partners to efficiently handle invoices, payments, and reconciliations without the need for complex onboarding, bank access, or wasted time.
In the first few months of operation, Apron has experienced consistent growth, largely driven by a growing demand for innovation among accountants. With the new funding, Apron plans to expand its product suite and make a significant impact on a much larger scale.
Today, Apron is unveiling two major updates that will position the company at the core of the critical infrastructure used by larger accountancy practices. The first update is Apron Hub, which serves as the go-to platform for all payment-related activities for big teams handling transactions for multiple businesses. Apron Hub brings together clients and tasks in one place, allowing users to efficiently manage all financial activities.
In addition to Apron Hub, the company is also introducing Apron Connect, a feature that seamlessly integrates with existing accounting software to provide a seamless and streamlined experience for accountants.
With these new updates, Apron aims to further solidify its position as a leading player in the industry, offering innovative solutions that simplify and enhance the payment processes for businesses of all sizes.
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