Bourn, a UK-based FinTech startup focused on SME finance, has secured £1.5m in seed funding to support the expansion of its AI-powered Flexible Trade Account (FTA).

The funding round was led by Haatch, with participation from fintech investors Love Ventures, Portfolio Ventures, and Aperture, alongside private backers.

Founded by Roger Vincent, Nick Tracey, and Paul Gambrell, the company has also appointed former banker and FinTech executive Leda Glyptis as a non-executive board member.

Bourn aims to address the cash flow challenges faced by SMEs by offering a modern alternative to traditional business overdrafts. Its flagship solution, the Flexible Trade Account, integrates AI-driven risk assessment, Open Banking, and accounting software connectivity to provide an automated revolving credit facility.

By partnering with banks and lenders, Bourn offers a white-label solution that enables financial institutions to expand their SME portfolios while minimising risk and maximising returns.

The newly raised funds will be used to further develop Bourn’s product, enhance its technology, and accelerate market entry.

Bourn’s CEO, Nick Tracey, highlighted the company’s mission, stating: “At Bourn, we understand the vital role SMEs play in the UK economy. 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.”

Marcus Love, general partner at Love Ventures, reinforced the importance of Bourn’s solution, saying: “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.”

Newly appointed non-executive board member Leda Glyptis 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.”