London-based fintech start-up Apron, which helps small businesses streamline payments, has raised $30 million in a Series B funding round, led by Zinal Growth.
Existing investors Index Ventures, which led Apron’s $15 million Series A in September 2023, Bessemer Venture Partners and Visionaries Club also took part in the round, alongside Tony Fadell, principal at Build Collective.
With the new funding, Apron plans to expand its product and engineering teams “ahead of some significant additions in 2025”. It also plans to launch new products, including one aimed at larger suppliers to help them get paid faster, and a new expense management product to help business owners save more time. The money will also be deployed towards further development and improvement of Apron Pay and Apron Capture – solutions that allow businesses to manage payments and invoice captures in one place.
Apron said it will also be launching Apron Card, an expense card for small businesses.
“It surprised us because expense cards from the likes of Pleo and Spendesk have been around for nearly a decade,” the start-up wrote in its blog. “When we brought this up with our customers, they told us that most expense cards on the market are too complicated, and too expensive.”
Commenting on the raise, Fadell from Build Collective, said: “Apron gives any small, even only one person, business the same financial tools as a large size company without the cost or complexity. It’s moving small businesses forward as business owners can now focus on serving their customers and spend their time actually running the business day to day.”
