Round, a London-based fintech firm that automates treasury management and payment processes for rapidly growing companies, has successfully closed a $6 million seed funding round. Alstin Capital led the round, with participation from Backed VC and Love Ventures, while notable angel investor Paul Forster, co-founder of Indeed, also contributed. Existing investor Passion Capital, an early backer of companies like Monzo and Tide, doubled its investment in the fintech.
Founded by Pac O’Shea and Hayyaan Ahmad, Round aims to streamline financial operations by sitting between a company’s existing banking systems, enterprise resource planning (ERP) software, and payment infrastructure. By automating cash flow management, Round allows finance teams to establish parameters such as approval thresholds and payment schedules, while it handles the execution of payments and treasury functions.
Round’s platform is designed to eliminate the manual steps that finance teams typically undertake. This is particularly beneficial for fast-growing companies, allowing them to focus on strategic financial management rather than routine operational tasks. The company has already secured customers including Cleo, an AI-driven money management app, and PostHog, a product analytics platform.
The funding round also coincides with the launch of two innovative products: the Agentic Workflow Builder and Autonomous Payroll. The Agentic Workflow Builder enables finance teams to outline their desired automation in plain English, which Round then converts into a workflow for approval. Once approved, the workflow operates continuously, with alerts sent via Slack, WhatsApp, or email only when a decision is required.
Meanwhile, the Autonomous Payroll feature simplifies the payroll process by integrating with existing payroll providers. Round retrieves payslips, manages approvals, funds the payroll from treasury accounts, and confirms payment completion, thereby streamlining what is usually a complex multi-system operation.
O’Shea drew a parallel between Round’s approach and that of Cursor, an AI coding assistant. He stated, “Cursor didn’t get big by replacing the CTO. It got big by doing the work which engineers didn’t want to do. We’re taking the same approach, but for finance.” This analogy underlines Round’s focus on enhancing efficiency rather than replacing existing roles within finance departments.
Andreas Schenk, a partner at Alstin Capital, emphasized Round’s unique position in the financial ecosystem, describing it as “positioned between banks, ERPs, and payment rails and orchestrates cash flows in real time.” He noted that this represents a fundamentally new approach to financial operations, contrasting it with mere optimizations of existing processes.
As Round seeks to expand its impact in the fintech landscape, the integration of automation into finance operations may signify a shift in how businesses manage their cash flows and payroll processes. By reducing the manual workload and increasing operational efficiency, Round aims to empower finance teams to concentrate on higher-level strategic initiatives.
The successful funding round and the introduction of its latest products could set a new standard for financial management in fast-growing companies. With the continuous evolution of technology in the financial sector, Round appears poised to capture a significant share of the market, enabling companies to adapt to the complexities of modern finance with greater ease and effectiveness.
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