Cardiff fintech start up Menna boosted with £500,000 equity investment

A Cardiff fintech start-up that has developed a generative AI powered platform to help small firms make smarter financial decisions has secured a £500,000 investment to supports commercialisation plans.

A syndicate of 20 business angels, led by lead investor Simon Bell, has invested £250,000 into Menna Their investment has been matched funded with a further £250,000 in equity backing from the Development Bank of Wales through its Wales Angel Co-investment Fund.

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Founded in August last year by Nick Carlton and Dan Mines, Menna helps small business owners to make better financial decisions by combining generative AI with rich real-time data. Mr Carlton was previously chief product officer for Confused.com and blockchain protection venture Coincover, while Mr Mines was chief information officer for Admiral Money and chief product officer for European open banking platform Yolt.

The firm’s Menna.ai platform offers real-time transaction alerts, forecasts, insights, smart recommendations savings and funding offers. It is free t