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§ Private Profile · 167-169 Great Portland Street, London.
Fintech and accounting software developer creating AI tools for accountants and SMEs, focused on spend management and cash flow.
Jenesys Financial, also known as Jenesys AI, was a London, England-based company developing AI-powered financial tools. Co-founded in November 2022 by CEO Nicolai Thomson and Dr. Tosin Dairo, a computer scientist and AI expert, the company focused on its conversational AI co-pilot "Jack." Jack, powered by a proprietary Accounting Language Model (ALM), automated bookkeeping, budget updates, fraud checks, and cash flow management for accountants and SMEs. Operating a B2B SaaS model, Jenesys Financial secured $1.1M-$1.5M in pre-seed funding and had 11-20 employees. Despite its innovative approach to spend management, working capital, and B2B payments, the company announced its shutdown after three years of operations. Its business model centers on B2B SaaS model targeting accountants, SMEs, and capital partners, generates revenue through software subscriptions and services, supported by pre-seed funding.
Jenesys Financial has raised $2.0M across 1 funding round.
Jenesys Financial has raised $2.0M in total across 1 funding round.
Jenesys Financial has raised $2.0M across 1 funding round. Most recently, it raised $2.0M Seed in December 2023.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Dec 1, 2023 | $2M Seed | John Spindler | Antler, Entrepreneur First, Financial Venture Studio, Fuel Ventures, Speedinvest, Erik Bovee, Hatcher+ | Announced |
Jenesys Financial has raised $2.0M in total across 1 funding round.
Jenesys Financial's investors include John Spindler, Antler, Entrepreneur First, Financial Venture Studio, Fuel Ventures, Speedinvest, Erik Bovee, Hatcher+.
Jenesys is a London-based fintech startup founded in 2022 that builds Jack, an AI-powered bookkeeping agent automating invoice extraction, GL and tax code assignment, bank reconciliation, and compliance tasks for accounting firms, SMEs, and startups.[1][3][4] Jack processes tasks like budgeting and bookkeeping in under 30 seconds, integrates with tools like email, WhatsApp, Slack, and Teams, and claims to operate 10x faster and 3-4x cheaper than outsourcing while retaining data control.[1][3][4] The company raised $1.1M in pre-seed funding led by Twin Path Ventures, with participation from Fuel Ventures, Antler, Hatcher+, and angels, and acquired Danish TaxTech firm VAT Key to bolster payments and compliance.[1]
Jenesys targets pain points in B2B invoice management, serving accountancy practices by providing client-specific AI agents that learn from transactions for higher accuracy and real-time insights, reducing manual review and fraud risks.[3][4]
Jenesys was co-founded in 2022 by Nicolai and Tosin, who met at a London accelerator.[3][4] Initially, their idea for Jack stemmed from solving payment mismatches—companies paying suppliers via purchase order (PO) while suppliers preferred cards—but accounting teams viewed it as non-essential.[3][4]
Pivoting after feedback revealed the real bottlenecks—manual invoice retrieval, partial reconciliation, and payment chasing—the duo refocused Jack on AI-driven automation accessible via everyday channels like email and messaging apps.[3][4] Early momentum included a Beta launch, the $1.1M pre-seed round, and the VAT Key acquisition, with founder Jonathan Bredo joining as strategy manager.[1]
Jenesys rides the AI agent wave in fintech, automating rote bookkeeping amid rising demand for efficient B2B payments and compliance in a post-pandemic supply chain era.[1][4] Timing aligns with AI's maturation for finance—beyond hype to practical tools like Jack—fueled by labor shortages in accounting and global trade complexities.[1][3]
Market tailwinds include SME digitization, regulatory pressures (e.g., VAT/tax), and competitors like Brex/Soldo focusing on spend management rather than core bookkeeping AI.[1] Jenesys influences the ecosystem by empowering accounting firms to scale client services affordably, potentially accelerating AI adoption in underserved markets like startups and international SMEs.[1][4]
Jenesys is poised for rapid scaling post-funding and acquisition, with Jack's Beta expanding to full rollout and deeper integrations for global payments.[1][3] Trends like multimodal AI (handling images/text across channels) and embedded finance will amplify its edge, especially as accounting automation hits mainstream amid talent gaps.
Expect partnerships with ERPs/accounting software and Series A traction if accuracy metrics hold; its influence could grow by democratizing pro-level bookkeeping for SMEs, circling back to its mission of confident business steering through real-time financial clarity.[3][4]