UK fintech startup Bourn closes £1.5m seed funding round to reinvent the business overdraft
UK fintech startup Bourn has closed a £1.5 million seed round with a mission to transform the SME finance landscape with its Flexible Trade Account (FTA). The funding round was led by Haatch, alongside fintech specialists Love Ventures, Portfolio Ventures, and Aperture, with additional backing from private investors.
Bourn was founded in 2024 by Nick Tracey, Roger Vincent and Paul Gambrell, and the company also welcomes seasoned fintech executive and former banker Leda Glyptis as a Non-Executive Board Member.
Bourn’s flagship product reinvents the business overdraft by combining an operational payment account with a revolving credit facility that connects directly to a business’s accounting system and bank accounts. Funding limits adjust dynamically based on outstanding invoices, debtor payments, and insights from Bourn’s proprietary risk engine.
“At Bourn, we understand the vital role SMEs play in the UK economy,” said Nick Tracey, CEO of Bourn. “Our mission is to simplify cash flow management through innovative financial solutions, giving businesses the confidence to grow. This funding propels us closer to our vision of transforming SME finance across the UK.”
Bridging the Funding Gap for UK SMEs
With the UK government prioritising economic growth, embedded finance reshaping the payments landscape, and Artificial Intelligence (AI) transforming credit access, Bourn is filling a critical gap in SME finance. As traditional banks scale back business overdrafts and the more complex working capital sector stagnates, Bourn’s FTA offers a smarter alternative—bridging the gap between these outdated products and providing businesses with real-time, automated funding when they need it most.
Key Features of the Flexible Trade Account (FTA):
- Fully Dynamic Funding: The FTA provides a scalable credit limit that adjusts in real time based on deep analytics of invoices, transactions, and cash flow, alongside AI-driven document analysis.
- Automated Cash Flow Management: Transactions flow through the FTA’s built-in payment account, with real-time tracking, accounting feeds, and automated cash allocations—eliminating manual admin.
- Real-Time Insights & AI Assistants: Businesses get clear visibility into their cash flow, through smart alerts, real-time business insights, and automated financial management.
- Embedded Capital: The FTA integrates seamlessly into banking apps, vertical SaaS, and accounting platforms, ensuring businesses can access credit and manage payments within their everyday business operating systems.
“Access to working capital remains one of the biggest barriers to SME growth. Bourn’s solution offers a scalable, efficient funding option for UK businesses, and we’re thrilled to support their journey,” said Marcus Love, General Partner at Love Ventures.
Leda Glyptis, newly appointed Non-Executive Board Member, added, “Bourn brings together a group of industry-leading seasoned professionals solving a very real problem that they understand deeply. I am honoured and excited to be joining this team bringing tangible value to businesses and driving financial accessibility”
Scaling Distribution Through Partnerships
It’s clear that overdrafts aren’t built for the modern SME – but fintech is changing the game. Enter the fintech revolution – Bourn is rewriting the rules of SME finance by offering solutions that are as agile and dynamic as the businesses they serve.
The seed funding will drive product development, technological innovation, and market entry, allowing Bourn to reach UK SMEs through its distribution network.
Bourn is already collaborating with UK banks and lenders to white-label the solution, helping these institutions to grow revenue, mitigate risk, and optimise returns – with more cost effective business funding solutions for SMEs.
At the same time, Bourn is embedding the FTA into leading accounting systems and business operating systems, giving SMEs seamless access to working capital within the tools they already use. By integrating with both financial institutions and everyday business operating platforms, Bourn ensures fast, frictionless funding for SMEs when they need it most.
