Jenesys AI, a pioneering force in B2B invoice management and payments, announces raising $1.1 million in a highly competitive pre-seed funding round. The 12-month-old startup’s valuation is unknown due to a $500k extension being negotiated with further investors.
This investment propels the company's cutting-edge software, which reimagines the role of AI in back-office financial operations within the $580bn global accounting market. The funding round was led by veteran AI investors Nick Slater and John Spindler at London’s Twin Path Ventures, with participation from Fuel Ventures, Antler, Hatcher+ in Singapore, and seasoned angel investors from the US and UK. The fresh capital will be deployed to engineering, customer success and expanding global payment compliance.
Nick Slater, Partner at Twin Path Ventures, an early-stage AI fund, comments “With the current explosion in AI capabilities, we believe Jenesys is well placed to take advantage. The team passed extensive technical due diligence to prove their use of cutting-edge AI, integrating it directly into everyday workflows to allow for seamless productivity gains. We are very excited about what they can achieve.”
“We are hugely excited to join Jenesys on their journey towards transforming the FinOps space with their leading-edge technology. Nicolai and Tosin are two impressive founders who have assembled a fantastic team of executors. We’re confident they can go and win in this market,” said Mark Pearson, Managing Partner, Fuel Ventures.
About | Jenesys AI
Established in November 2022, Jenesys AI focuses on elevating the role of bookkeepers and accountants with an AI co-pilot called “Jack”. By shifting human accountants to supervisory positions, Jenesys AI's technology minimises errors and inconsistencies in transaction reconciliation, compliance and payments. The company stresses they don’t sell a tool but a service, completing 90% of bookkeeping and compliance tasks and, when used, helping approvers improve budget performance by 20-25%. Jenesys’ mission is to help businesses overcome cashflow worries by enabling instant reconciliation so supply chain payments are faster than card payments.
