“Can an AI-agent layer sitting on top of Xero/QuickBooks automate enough of the accounting firm's recurring workflow that firms scale clients without scaling headcount?”
Mimo launched in 2024 as an SMB payments / cash-flow management platform on the Airwallex EMI rails, positioned as an AP + open-banking payments tool for UK SMBs. Through 2025 it added embedded lending via a $125M+ facility from Froda (Mimo Flex, a 30/60/90-day pay-later product for supplier bills). By 2026 the company has repositioned upmarket around 'Mimo Associate' — AI agents for accounting firms that automate document collection, bank reconciliation, VAT, close and bookkeeping — while retaining Pay and Payroll modules as adjacent products.
Mimo HQ discloses Airwallex and Modulr as its banking providers, according to the Embedded Finance Index 2026.
Mimo HQ does not disclose a bank charter of its own; its banking services are provided through Airwallex and Modulr.
Mimo HQ processes payments through Airwallex, GoCardless and Modulr.
Mimo HQ's lending and capital products are provided by Froda and Froda Embedded.
Mimo HQ connects to bank accounts through Plaid and GoCardless.
Mimo HQ uses Airwallex for FX and cross-border payouts.
Mimo HQ integrates with Xero, QuickBooks and FreeAgent.
The Embedded Finance Index 2026 maps 7 layers in Mimo HQ's stack: Payments / PSP (Airwallex, GoCardless and Modulr); Banking / BaaS (Airwallex and Modulr); Lending (Froda, Froda Embedded, Mimo Flex (30/60/90-day supplier bill deferral) and Embedded SME funding via Froda ($125M+ facility for UK SMBs)); Open banking (Plaid and GoCardless); FX & payouts (Airwallex); Accounting (Xero, QuickBooks and FreeAgent); Tax (Vertex).
Mimo HQ was founded by Henrik Grim, Alexander Gernandt Segerby and Andreas Meisingseth and is founded in 2023, headquartered in London, United Kingdom.
Mimo HQ has raised ~$28M in total (latest round: Venture, 2025 ($8.5M led by Project A)).
Get a read on where your own stack stands against Mimo HQ and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.