Money Squirrel launches open banking-powered cash flow management app for UK businesses
Fintech start-up Money Squirrel has debuted a new mobile app which, powered by open banking, promises to help UK businesses “take control of their finances and make their hard-earned cash work harder”.
Money Squirrel launches mobile app
The offering, devised by software specialist Andreea Daly, links to business current accounts, and sweeps cash into interest-bearing savings accounts for automatically-calculated VAT, budgeting and tax purposes.
Accounts are connected using open banking technology provided by Moneyhub.
In comments, CEO Daly claims first-hand experience in “the frustrations of managing cash flow”, having spent “countless hours calculating VAT and budgeting for future expenses”.
This frustration, she explains, culminated in the formation of Money Squirrel in 2022 to “take that worry off the table, freeing founders to focus on growing their businesses”.
Money Squirrel is a former participant of the Ignite incubator programme run by the SHIFT Open Finance Community, and was revealed in October to be the sole recipient of Ignite’s backing, comprising an undisclosed cash injection, Google Cloud resources and allocated co-working space.
Daly was contacted by FinTech Futures for comment.
