← State of Embedded Finance 2026

Mimo Bring

“Can an AI-powered accounting workflow platform become the financial operating system for UK SMBs by embedding payments, working capital, and month-end automation in one place?”

Founded2023
HQLondon, UK
FoundersHenrik Grim (CEO), Alexander Gernandt Segerby (CPO), Andreas Meisingseth (CTO)
Total raised$8.5M equity + $125M+ embedded funding partnership
Latest roundSeed/Early-stage equity, 2025
IndustryVertical SaaS / Accounting

The story

Founded in 2023 as an SMB payments and cash flow management platform, Mimo quickly gained traction processing hundreds of millions of GBP. The company raised $8.5M in 2025 and embedded working capital (via Froda) directly into its platform as 'Mimo Flex'. By 2026, the product positioning had shifted toward AI-powered workflow automation for accounting firms — with Mimo Associate automating month-end close and bookkeeping tasks — marking a pivot from pure payments/cash flow into vertical AI SaaS for accountants and finance teams.

Last 12 months

2025-06

Froda and Mimo went live with an embedded SME finance partnership making up to £92M in flexible financing available to UK SMBs.

2025

Mimo raised $8.5M equity round led by Project A, with continued participation from Northzone and Seedcamp.

2026-02

Customer Information Sheet updated to reflect dual EMI structure: Modulr FS Ltd and Airwallex (UK) Limited as e-money wallet providers.

2026-03

Mimo Platform Terms of Service updated to version 03.03.26, describing Mimo as an 'integrated invoice management platform'.

2026-05

Third Party Processors page updated (May 2026), listing Google Cloud Platform, Vercel, Okta, Twilio, and Mailgun as core infrastructure providers.

Product timeline

2023

Mimo (Omim Technology Ltd) founded in London by Henrik Grim, Alexander Gernandt Segerby, and Andreas Meisingseth as an SMB payments and cash flow management platform.· pivot

2024

Platform grew 10x in usage within ~10 months of launch, processing hundreds of millions of GBP in payment volume for UK SMBs.· banking

2025

Raised $8.5M equity led by Project A with Northzone and Seedcamp; simultaneously secured a $125M+ embedded funding partnership with Froda for SMB working capital.· lending

2025

Launched Mimo Flex, an embedded working capital product powered by Froda Embedded, available directly within Mimo's financial platform.· lending

2026

Pivoted product positioning toward AI workflow automation for accounting firms with Mimo Associate, automating month-end close, document collection, reconciliation, and financial review.· pivot

Regulated entities

Appointed Representative / Platform (not licensed entity — uses Modulr FS Ltd and Airwallex (UK) Ltd as regulated EMIs)

UK FCA · 2023

Omim Technology Ltd

The stack

Banking / BaaS

Modulr

Lending

Froda Embedded Mimo Flex (flexible working capital / SMB loans)Revenue-based / flexible SME financing

Open banking

Plaid

FX & payouts

Airwallex

Accounting

QuickBooks

Accounting gap: minor