Loading organizations...
§ Private Profile · Reading, Berkshire, UK
SaaS provider of cloud-based AI software for finance teams, monitoring accounts payable and purchase-to-pay risk.
FISCAL Technologies has raised $9.7M across 2 funding rounds.
Key people at FISCAL Technologies.
FISCAL Technologies has raised $9.7M in total across 2 funding rounds.
FISCAL Technologies is a Reading, United Kingdom-based software company that provides cloud-based artificial intelligence solutions for risk monitoring in accounts payable and purchase-to-pay processes. The organization operates a software-as-a-service business model, delivering forensic analysis tools that detect transaction exceptions, errors, fraud, and compliance issues across global private and public sector entities. Operating with an estimated 79 to 132 employees worldwide, the enterprise generates approximately $10 million in annual revenue and has secured $4.7 million in total funding to date. The platform currently protects £300 billion in organizational spend annually, generating an average of £258,000 in yearly savings per customer by securing corporate financial operations. The executive leadership team includes Chief Executive Officer David Griffiths, Chairman Nigel Savory, Chief Financial Officer Frances Lawrence, and Chief Product Officer Daniel Cashen. The company was founded in 2003.
FISCAL Technologies is a UK-based SaaS company specializing in AI-driven software for Accounts Payable (AP) and Procure-to-Pay (P2P) automation, focused on continuous risk monitoring to protect organizational spend from fraud, errors, duplicates, and supplier risks.[1][2][3][4] It serves finance teams in public and private organizations globally, solving problems like overpayments, discrepancies, regulatory non-compliance, and cash leakage by analyzing every invoice, supplier, and transaction daily, with proven results including £340 billion in annual spend protected, £258,000 average savings per customer, and £918 million in risks identified in 12 months.[1][3][4] The company boasts strong growth momentum, with ~£5 million in SaaS revenue plus £500k services, 88% net revenue retention, 94% subscription growth, 13% US revenue, and a 4-year CAGR targeting 15% annual growth, supported by £4.7 million in venture capital funding and over 300 clients.[2][3]
Headquartered in Reading, UK, FISCAL has operated for over 20 years, evolving from a risk analysis platform into advanced AI tools for supplier monitoring, statement reconciliation, credit scores, sanctions, and adverse media checks, with fortnightly updates driven by customer input.[1][2][4]
FISCAL Technologies was incorporated on June 17, 2003, as Montrose Financial Limited, rebranding to FISCAL Technologies Ltd. by April 2007, with its registered office at 448 Basingstoke Road, Reading, Berkshire, UK.[3][5] From modest beginnings as a humble risk analysis platform around 2007, it grew into a trusted global partner for AP and P2P teams, leveraging analytical expertise and AI innovation to address finance challenges in shared service centers.[1][4] Key early traction came from protecting billions in transactions, scaling to analyze £4 trillion in invoices for 300+ clients, and achieving pivotal milestones like £574,000 average cash recovery per customer in the first year, backed by venture capital that fueled its expansion into a £5m+ SaaS business with 80 employees.[1][2][3]
The company's evolution reflects relentless innovation: starting with transaction analysis, it expanded to supplier risks, fraud prevention, and continuous monitoring, now safeguarding £340 billion annually—equivalent to 15% of UK GDP—while building a "work hard, play hard" culture emphasizing customer-centric values like collaboration, agility, and transparency.[1][2][4]
FISCAL Technologies rides the wave of AI-powered FinTech for AP automation and spend management, addressing rising complexities in global supply chains, regulatory compliance, and fraud amid economic pressures like inflation and cyber threats.[1][3][6] Timing is ideal as organizations face escalating supplier risks—e.g., ESG scrutiny, sanctions volatility, and duplicate payment losses—driving demand for continuous, predictive tools over periodic audits, with market forces like digital transformation in shared services favoring SaaS scalability.[2][4] It influences the ecosystem by de-risking £340 billion in spend yearly, enabling working capital optimization for 300+ clients, and setting benchmarks in AI for P2P, as seen in its role protecting 15% of UK GDP-equivalent value while expanding in the US.[1][3][4]
FISCAL is poised for accelerated growth through AI enhancements in statement reconciliation and predictive risk analytics, targeting 15% annual revenue expansion via US market penetration and upsell to its loyal base.[2][4] Trends like AI regulation, real-time finance, and ESG mandates will shape its path, amplifying demand for its proactive platform amid £trillions in global spend at risk. Its VC backing and innovation track record position it to evolve from protector to strategic partner, potentially dominating AP intelligence as adoption scales. This builds on its 20-year legacy of turning risks into safeguarded efficiency for finance teams worldwide.[1][2][3]
FISCAL Technologies has raised $9.7M in total across 2 funding rounds.
FISCAL Technologies's investors include Octopus Investments, Calculus Capital, John O'Connell, Octopus Ventures.
Key people at FISCAL Technologies.
FISCAL Technologies has raised $9.7M across 2 funding rounds. Most recently, it raised $4.7M Series A in December 2019.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Dec 19, 2019 | $4.7M Series A | Octopus Investments | Calculus Capital, John O'connell | Announced |
| Dec 1, 2019 | $5M Series U | — | Octopus Ventures | Announced |
