upSWOT, a fintech that helps carry enterprise intel to small enterprise homeowners, has raised $4.3 million in seed funding. Amongst Finovate’s latest alums, upSWOT provides a knowledge aggregation and enterprise finance administration platform that leverages money stream predictions and enterprise insights to allow banks, insurance coverage corporations, and different establishments to raised serve their small enterprise and mid-market clients.
“Managing a portfolio of SMB purchasers is a problem for each financial institution, lender, and servicer,” upSWOT CEO Dmitry Norenko mentioned. “Amidst a world pandemic, the monetary business should discover new and modern methods to assist this very important buyer section. Our white-label resolution helps main nationwide and neighborhood banks achieve granular insights into their SMB clients launched inside six weeks, and with minimal pressure on inside IT or overlap with legacy methods.”
upSWOT’s funding spherical was led by Frequent Ocean, a enterprise capital agency that makes a speciality of early-stage fintechs which can be innovating within the monetary wellness area. Additionally taking part within the spherical have been CFV Ventures, ICBA, First Southern Nationwide Financial institution, and SpeedUp Enterprise Group, in addition to earlier traders. upSWOT mentioned that it could use the funding to develop its enterprise within the U.S., add expertise to assist “a rising record of deployments with Tier 1 and Tier 2 monetary establishments,” in addition to proceed so as to add options and performance to its knowledge aggregation and BFM platform.
upSWOT leverages APIs to mixture knowledge from greater than 120 widely-used enterprise options reminiscent of Quickbooks, Salesforce, Amazon, and Shopify and supply enterprise homeowners with predictive evaluation and actionable insights. By way of partnerships with monetary establishments, upSWOT’s aim is to assist SMEs which were left to “fend for themselves” by giving them “modern-day instruments” to assist assist money stream administration, debt funding, monetary planning and correct money reporting.
Based in 2019, upSWOT demonstrated its white-label platform at FinovateWest Digital final 12 months. A graduate of the Berkeley SkyDeck accelerator, the corporate contains Raiffeisen Financial institution Worldwide, Privat Financial institution, D&B, and Mastercard amongst its clients.