“The whole concept of slow payments is a huge global issue,” explains Paul Christensen, the Co-founder and CEO of Previse. “Slow payments are a global challenge with massive human and social costs. Using smart technology, we are proud of being the first company able to provide an effective solution. Therefore, it is a huge global opportunity that no-one has cracked yet. Given the problem is so big, why has no-one cracked it yet? Everyone has tried to solve the problem using process, and changing process at large organizations is really hard. Previse is unique because instead of using process, we use data.”

Despite the firm only being founded in 2016, Previse secured $7 million worth of funding this week from investors including Augmentum Fintech and American venture capital firm Bessemer Venture Partners. Christensen has said that Previse is currently in conversation with 100 companies keen to adopt his software, while eight have already signed up – based in the United Kingdom, Australia and the United States. These include major retail and grocery firms in the UK as well as firms from the financial industry.

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Rahil Patel

Rahil is an Analyst at Augmentum. He joined the fund full-time following a Summer internship in 2018.

Prior to Augmentum, Rahil studied Geography at Durham University and has previously worked with Mayfair Insurance Company and Sipsmith Gin.

When he is not curating the office Alexa playlist, Rahil tries to keep up with his passion for DJing that began at university.

Learn more about Rahil in this blog post.

Georgie Hazell

Georgie heads up engagement at Augmentum, which involves supporting portfolio companies, engaging with investors and the wider fintech ecosystem (including marketing and events), and supporting the team internally.

Georgie has worked in a number of startups across people, strategy and growth leadership positions. Following her MBA and a consultancy project with Crowdcube, Georgie moved into venture capital.

Passionate about diversity and inclusion, particularly in VC and entrepreneurship, Georgie founded women in tech network Elevate, led on UK expansion for Her Campus Media, volunteers with Diversity VC and mentored with The Girls Network.