Sara Green Brodersen, Andre Karihaloo and Dominic Botten founded Canaree to provide startups and small businesses with fast, automated tools to plan their future finances without the need for spreadsheets. So many businesses fail because of poor cash flow management. London-based B2B Fintech startup understands that growing a business is challenging and financial modelling is core to raising money and keeping your business on track.
The company, launched in September 2020, managed to raise £500K in the Seed Round from Little Venice Partners in July 2020, shortly after its incorporation date. Since its launch, Canaree has attracted over 600 companies to manage their liquidity during their critical scaling journeys and to build the best companies of tomorrow.
Financial forecasts are extremely important, especially for startups that are in early stages such as pre-seed to Series A-B. Canaree offers a simple system where they can understand their future finances.
Spend Less Time on Finances, More on Growth Strategies
The product sets itself apart from the competition with its wide range of easy-to-use tools that allows founders to seamlessly create, visualise and share a financial model in minutes, instead of wasting time with tricky spreadsheets and other external resources. Spreadsheets are error-prone, lack collaboration and require advanced knowledge to master. With a better grip on their financial planning, startups can focus more time and energy on building their companies.
Among the biggest draws to Canaree’s premium service is the expert feedback it offers to entrepreneurs. Many founders require financial advice or help to build a model, but the cost can be out of reach. Canaree has addressed this with a built-in automated advice feature that recommends how to improve unit economics and churn rates as you go along. They can also book a remote session with one of our expert financial advisors if more pressing financial questions come up – within the product offering at no extra cost.
The founding trio named the company Canaree because canaries are known to be good companions to humans, and that’s what the company wants to be for entrepreneurs. In their words, “they want to be companions for startups, they want to see them succeed.”
Listen to Our Podcast with Canaree Co-founder & CEO Sara Green Brodersen
Sara told us about her journey in the Fintech sector as an entrepreneur who has chosen to grow organically. She also shared her experiences both as a woman and immigrant founder, and how this affects the conversations.