Yavrio, a London-based Open Banking fintech, has raised £2m in seed funding to accelerate the fast-growing firm’s mission to transform the enterprise resource planning (ERP) space by eradicating error- and fraud-prone CSV file imports. Fuel Ventures led the round with a £1.5m investment and joins an illustrious group of Yavrio investors which includes Sajid Javid, former Chancellor of the Exchequer, and Garth Ritchie, former President of Deutsche Bank, alongside Dan Cobley, co-founder of ClearScore and Salary Finance.
ERP systems play a pivotal role as businesses continue to digitise and automate operations, driving a substantial market valued between £39bn and £157bn. Despite their importance, many do not have embedded banking or payments and still rely on manual processing or outdated CSV files—a data storage and transfer method dating back to the 1970s. These files lack modern security features like encryption, password protection, and data validation, making them highly vulnerable to breaches. Sensitive information is easily exposed if intercepted or improperly stored, highlighting the urgent need for more secure and efficient alternatives.
Yavrio’s cutting-edge platform enables businesses to seamlessly connect their ERPs directly with banks, eradicating the need for any files, while providing real-time financial insights, and the ability to execute fast, secure transactions. Yavrio’s direct integration between bank accounts and ERP systems ensures the utmost security, eliminates the risk of fraud and error associated with manual processes and CSV file handling and saves time by automating tedious processes, allowing teams to focus on high-value tasks.
Yavrio is already connected to over 10,000 banks across the UK, USA, Europe and the Middle East with an ever-expanding customer list ranging from governmental bodies and elite sports teams to cultural institutions and commercial enterprises. The firm has also signed up several charities that have connected over 250 banks with only a few clicks, as opposed to the traditional implementation with legacy products that take days, if not weeks. From beginning on Microsoft Dynamics 365 Business Central, Yavrio is now expanding this support to other ERP platforms.
