Founded: April 2017
Products: Advanced Reconciliation Manager, Auto Payments, Agency Management, Digital Cash Ledger, Liquidity Manager, In House Virtual Bank
Overview: Fennech provides a SaaS Next Gen banking platform for corporates that is aimed at helping organisations orchestrate large scale and complex processes in payments, finance, and treasury. It provides “an enterprise strength intelligent automation platform” as a digital toolkit to configure bespoke solutions for the process flows clients want to follow, and which fits within their existing IT ecosystems.
The Fennech platform acts as a two-way connecting bridge between internal ERP systems and banks, and multiple payment rails. It is intended to simplify and automate complexity in reconciliation, payables and receivables management, and multi-entity trading cash management.
Clients: Brinks, Paysafe and Zywave
Active region(s): UK and Western Europe
Partners: Blue Prism, Coforge, Sia Partners
Funding: Primarily self-funded with £475,000 raised from friends/family and angels
Ownership: Majority shareholders are the company’s directors
Elevator pitch: “We help large corporations and financial institutions automate their finance and treasury operations to solve material pain points that are limiting their ability to operate, grow their business, or take the right decisions.”
Email: [email protected]
Phone: +44 7825 934153
TMI view: The adoption of smart contract technology has a huge role to play in the progress of digitisation. Fennech’s platform meets a fundamental need in corporate finance, and other areas, being capable of automating processes around pre- and post-payment activity.
Verdict: Solves a fundamental and essential problem when digitising documentation.