Scaleup Finance raises £3M to launch Nume, an AI CFO for startups and SMEs

Copenhagen-based Scaleup Finance has secured £3 million to launch Nume, an AI-powered CFO solution designed for startups and SMEs, aiming to address the financial leadership gap faced by millions of businesses globally. The funding will support Nume, an AI CFO designed to streamline financial planning and reporting, offering a solution to a significant pain point for many small and mid-sized enterprises. This new offering leverages AI to answer complex financial questions and proactively guide founders on business health. Nume is designed to function as a virtual CFO, providing financial insights and preparing reports tailored for small and medium-sized businesses. It targets the 50 million SMEs globally that often lack dedicated finance functions, relying on manual processes and limited access to financial expertise. The platform will operate through familiar communication channels like email and Slack, making financial information more accessible and actionable. The launch of Nume has broad implications, particularly for startups seeking to improve financial management and build investor trust. It offers a solution to the common challenges startups face, such as cash management and accurate forecasting. By providing a clear view of financial performance and improving reporting, Nume aims to empower founders to make informed decisions. The platform's development comes as open banking has increased financial complexity, particularly for those without dedicated financial expertise. Nume's focus is on the strategic aspects of finance, like budgeting and forecasting, to support companies. This includes assisting startups in meeting external reporting requirements, building trust with investors, and laying the groundwork for future funding rounds.