London-Based Fintech Yavrio Secures $2.4 Million to Modernize ERP Systems

London’s fintech company Yavrio has raised $2.4 million in a seed funding round aimed at transforming enterprise resource planning (ERP) systems through modern banking integration. The funding round was led by Fuel Ventures, with notable participation from Sir Sajid Javid, former Chancellor of the Exchequer, and Garth Ritchie, former President of Deutsche Bank.

Yavrio’s platform is designed to eliminate the reliance on outdated CSV files in ERP systems, a common practice that exposes businesses to potential data breaches and operational inefficiencies. These files, originally developed in the 1970s, lack essential security features such as encryption, password protection, and data validation. As a result, many companies face risks of data errors, fraud, and time-consuming manual reconciliations. Yavrio seeks to bridge this gap by allowing businesses to connect directly with banks, streamlining financial operations while providing secure, real-time financial insights and transaction processing.

John Lewis, CEO of Yavrio, highlighted the challenges finance teams continue to encounter despite advancements in ERP software. “Over the past decade, finance teams have moved away from clunky, outdated software to embrace finance and ERP systems which improved productivity and provided automation opportunities,” he said. However, Lewis emphasized that these systems fall short because manual CSV file downloads and reconciliations remain a significant burden. “Yavrio is the next iteration of this transformation,” he added.

The company’s vision aligns with the interests of its investors, particularly Fuel Ventures, which focuses on identifying companies with the potential for large-scale industry transformation. Oli Hammond, Partner at Fuel Ventures, commented on Yavrio’s potential, stating, “We are always looking to find the top per cent of businesses that can not only match leading operators but can transform industries at scale. What we continue to see from the team at Yavrio is a sharpness that keeps them steps ahead of the competition.”

With the fresh funding, Yavrio plans to expand its reach and offer its platform to a broader range of companies seeking secure and efficient financial management. By eliminating manual file processing and integrating real-time data connectivity, Yavrio aims to enhance operational accuracy and reduce financial risks for its clients.