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London-based Jenesys Raises $1.1M In Pre-Seed Funding

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London-based company Jenesys, specializing in B2B invoice management and payments, successfully secured $1.1 million in Pre-Seed funding. The funding round, led by Nick Slater and John Spindler from Twin Path Ventures in London, featured contributions from Fuel Ventures, Antler, Hatcher+ in Singapore, and angel investors spanning the US and UK.

With the newly acquired funds, Jenesys aims to bolster its engineering, customer success, and global payment compliance initiatives. Co-founded by Nicolai Thomson and Tosin Dairo, Jenesys AI employs a unique blend of enterprise and financial management expertise, coupled with AI and computer science, to address crucial inefficiencies in financial management. The company’s platform focuses on empowering bookkeepers and accountants by introducing an AI co-pilot named “Jack,” relegating human accountants to supervisory roles. This approach minimizes errors and inconsistencies in transaction reconciliation, compliance, and payments.

Expanding its team, Jenesys AI welcomed Jonathan Bredo, who joined as Strategy Manager after the company acquired his Andreessen Horowitz Scout-funded digital TaxTech venture, VAT Key, in an undisclosed cash and equity deal. This strategic move not only added the global venture firm to Jenesys’ cap table but also injected capital into VAT Key. The goal is to facilitate its expansion beyond Denmark, its home market, assisting SMEs in reclaiming VAT for EU business travel outside their domestic sphere.

Formerly one of the initial 30 employees at Pleo, Jonathan Bredo will play a pivotal role at Jenesys AI, overseeing payments and compliance in his capacity as Strategy Manager.

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