UK finance software firm Yordex gets £500k funding
London-based Yordex has raised £500,000 from lead investor Bloc Ventures to develop its finance software.
![Plans to build sales and marketing teams](https://www.fintechfutures.com/files/2019/02/Yordex.jpg)
Plans to build sales and marketing teams
Yordex was founded in 2017 by former Worldpay executives Erik De Kroon and Hardeep Nagi.
It’s aimed at businesses with a turnover of £1 million to £100 million and has developed a finance portal with features including budget management, invoice central and cash management, for spend control, cash flow management, and “reduced” processing costs.
“Fast growing businesses today are stuck between a rock and a hard place,” David Leftley, CTO and co-founder of Bloc Ventures explains. “They have outgrown Software-as-a-Service (SaaS) finance software solutions like Xero, but moving to a traditional ERP system is expensive, time consuming and will slow them down. Yordex allows them to remain agile while putting in place the processes, controls and visibility a company of their size needs.”
De Kroon adds that its software also saves finance teams up to 75% in time processing invoices, payments and month-ends.
Yordex says its software connects to bank accounts and existing accounting systems to manage all data exchange.
The funds will be directed into building sales and marketing teams.