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Fuzey: British startup takes steps to digitise global SMEs with €4M funding

Image credits: Fuzey

London-based Fuzey is a digital one-stop shop for SMEs and independent contractors. The platform centralises communications, marketing, payments, and calendars for small businesses.

Today, Fuzey just announced that it has raised €4 million in a seed funding round. The financing round was led by a Nordic VC byFounders along with participation from an existing investor Flash Ventures, Ascension, Global Founders Capital, and business angels Sheel Tyle (the founder and CEO of Amplo VC) and Stephane Kurgan (Venture Partner at Index Ventures).

Fuzey will use the funding to grow its team of 10 and expand into new markets in North America and Europe. Also, byFounders investor Sara Rywe and Flash Ventures Partner Lorenzo Franzi have joined the Fuzey board. Also, this round has increased the total investment secured by the company to $5.2 million.

Sara Rywe, the investor at the community-driven new Nordic VC, byFounders, commented: “We have full conviction in the founding team and are confident that they will be able to leverage their unique experiences from fast-paced companies like Wise, Bolt, Disperse, Lineten, and Ubeeqo when scaling Fuzey to the next level.”

Lorenzo Franzi, Partner at Flash Ventures, added: “We have known and supported Fuzey from the very beginning and are very happy to continue supporting them. We are big believers in the team’s vision to empower small businesses with the digital tools they need. We have been impressed by the rapid traction and positive impact on their users’ businesses.”

Helps digitise small businesses

Fuzey was founded by Henrik Lysgaard Jensen (CEO) and Alex Boyce (COO) in 2020 to help digitise small businesses. It targets small business owners such as mechanics, plumbers and electricians, who are touted to be the backbone of every community. They believe that many tools developed for business management are either not designed for small businesses or out of their reach.

Usually, small businesses were managing all their tasks such as invoices manually on paper. With the digital platform of Fuzey, they can digitise all tasks as it brings together everything into one dashboard and amps up their online profiles. The platform lets them manage their communications via SMS, email, WhatsApp or social media, under customer behaviour, send invoices, manage appointments directly to their calendars, get payments, and increase customer reviews.

“Local businesses are the backbone of every community, and yet too many have been left behind in this rapidly changing digital landscape,” commented Fuzey co-founder and CEO, Henrik Lysgaard Jensen. “That’s why we want to equip every SME with a digital toolkit that allows their company to flourish. We’re on a mission to transform the way that local businesses attract, transact with, and retain, their customers, so they can focus on doing the work that really matters.”

Alex Boyce, Fuzey co-founder and COO, added, “Fuzey helps local businesses forge meaningful relationships with their customers. We’re working to empower service-based SMEs by providing accessible, intuitive technology tailored to their needs. The COVID-19 pandemic changed how we all live and work, and now more than ever local businesses need a tool like Fuzey so they can offer efficient, convenient services to the communities they serve.”

How it helps SMEs?

Since the pandemic, customers are looking for new ways to interact with local businesses and there is a surge in the use of social media and instant messaging platforms to communicate with businesses. Also, they are making purchase decisions online and rely on internet reviews. The Fuzey platform taps into this growth and helps businesses manage the demands of customers these days.

Fuzey offers three plans for businesses. These are Starter, Professional and Enterprise. The Starter plan is meant for sole traders and new businesses and is priced at £89 per month. The Professional plan is priced at £149 per month and suits local businesses manage all their communications between staff and customers. Lastly, the Enterprise plan priced at £199 per month is for large local businesses to manage communication across other locations.

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