Smartfin leads 10 Mio £ Series A investment in Incard, the financial operating system for high-growth digital companies

Smartfin announces a 10 Mio £ Series A investment in Incard, the financial platform purpose-built for high-growth digital businesses. The round is led by Smartfin, with participation from Founders Capital, MountFund, and a group of top-tier angel investors.

Founded by Theo Cesarini, Soraya Tribouillois, Liam Seskis and Matteo Martino, Incard is building a financial operating system that gives digital companies real-time visibility, control, and automation across their entire financial stack. Since launching in 2024, the platform has been rapidly adopted by founders and operators who need to manage complex cash flows, high advertising spend, multi-currency exposure, and multi-entity structures, all in one place.

The market opportunity is driven by the rapid growth of digital-first business models such as e-commerce brands, agencies, affiliates, and resellers. Despite their scale and complexity, these companies are still largely underserved by fragmented banking tools, spreadsheets, and point solutions that fail to reflect how modern digital businesses actually operate.

Incard addresses this gap by acting as an orchestration layer on top of banking, payments, and financial tools. The platform combines business banking, connected accounts, corporate cards with built-in rewards, invoicing, spend management, and treasury capabilities in a single interface. Through the Incard App Store, companies can further extend the platform with industry-specific tools that adapt to their growth stage and operational needs.

Since launch, more than 500 Mio £ has already been transacted on the Incard platform. The company has gained strong traction across the UK and Europe, particularly among businesses with high ad spend and international exposure. Customers include fast-growing brands such as Azio Beauty, Aloe Paris, and Ankhway.

“Incard is building infrastructure that reflects how digital companies actually grow and operate today, where speed, automation, and real-time visibility are critical,” says Thomas Depuydt, General Partner at Smartfin.

The founders experienced these challenges first-hand while scaling digital businesses themselves. “As entrepreneurs, we saw a clear mismatch between how digital companies operate and the financial tools available to them,” says Theo Cesarini. “Every industry has unique financial workflows and they need a system that understands how they operate. One that centralises finance, provides spend insights, tracks real-time cash flow, and includes industry-specific add-ons.”

With the Series A funding, Incard will accelerate its international expansion, particularly across Europe and the US, while continuing to invest in automation, AI-driven financial workflows, and its app ecosystem. The company also plans to significantly grow its engineering, compliance, and product teams to support its next phase of growth.

Incard was founded in London by serial entrepreneurs Theo Cesarini, Soraya Tribouillois, Liam Seskis and Matteo Martino after experiencing first-hand how founders of high-growth digital companies, which have unique financial workflows, were underserved by business banking. In response, they built Incard. Built for next-generation entrepreneurs, the company launched its financial platform in 2024 with industry-specific workflows. Incard is a financial operating system that centralises finances, provides real-time cash-flow visibility with spend insights and offers industry-specific add-ons, enhanced by cashback on key business expenses, all connected in one place.

More info: www.incard.com

Smartfin is a European venture and growth capital investor, managing over €600 million in assets and investing in early and growth stage B2B technology companies. Smartfin has an open-ended investment philosophy and invests throughout Europe and the United Kingdom. Smartfin’s team combines a successful venture capital and private equity investment track-record with extensive operational experience in setting up, building, and managing leading international technology companies which differentiates us as an experienced and entrepreneurial, truly hands-on and value-added partner to our portfolio companies.

More Info: www.smartfinvc.com