Add **Notes, no more than 140 words (optional) Jenesys AI, a startup that helps accountants manage client bookkeeping, compliance, and global payments, has announced that it has raised €1 million in a highly competitive seed round. The valuation of the 12-month-old startup is yet to be known, as a €500,000 extension is being negotiated with further investors.
The round was led by veteran AI investors Nick Slater and John Spindler of London-based Twin Path Ventures, with participation from Singapore-based investors such as Fuel Ventures, Antler, and Hatcher+, as well as senior angel investors from the United States and the United Kingdom. This new funding will be used for engineering, customer success, and expanding global payments compliance. The investment propelled the company's cutting-edge software to reinvent AI's role in back-office financial operations in the $580 billion global accounting market.
Nick Slater, Partner at Twin Path Ventures, said: "With the current growth of AI capabilities, we believe Jenesys is in a strong position. The team passed rigorous technical due diligence to demonstrate that they use cutting-edge AI and integrate it directly into their daily workflows for seamless productivity gains. We are very excited about their potential. ”
Add a comment of 140 words or less (optional)" We are thrilled to be joining Jenesys to advance the FinOps space. Nicolai and Tosin are two impressive founders who have assembled a fantastic executive team. We are confident that they will be able to succeed in the market. Mark Pearson, managing partner at Fuel Ventures, said. Jenesys AI focuses on elevating the roles of bookkeepers and accountants with an AI assistant called "Jack".
By transforming human accountants into overseers, Jenesys AI's technology minimizes errors and inconsistencies in transaction reconciliation, compliance, and payments. The company emphasizes that they not only sell tools, but also provide services, complete 90% of bookkeeping and compliance tasks, and help business approvers improve budget performance by 20-25% after use. Jenesys' mission is to help businesses overcome cash flow issues by enabling instant reconciliation to make in-chain payments faster than credit card payments. Jenesys AI was founded by Nicolai Thomson and Tosin Dairo, who have expertise in business and financial management, and artificial intelligence and computer science, respectively. This synergy has allowed their platform to address significant inefficiencies in financial management and secure a waiting list of more than 3,000 clients from more than a dozen accounting firms in the UK.
"AI is one of the biggest growth opportunities in the world, and Jenesys is applying real innovation in this space to transform the way invoicing and cash flow are managed," said Ollie Purdue, Partner at Antler. The financing and acquisition news announced today is a testament to their future potential. This ambitious and highly skilled founding team has built world-class technology that meets the pressing needs of the market. We are proud to have supported Nicolai and Tosin from the beginning and will continue to support them as they grow. ”
Add**Comment, no more than 140 words (optional) Their innovative highlight is an AI assistant called "Jack", which is powered by their proprietary Accounting Language Model (ALM). Jack will update budgets and complete bookkeeping checks, fraud checks, and compliance checks in 30 seconds, before making domestic or global payments, effectively transforming from bookkeeper to internal auditor, ensuring compliance with accounting standards and international financial regulations.
Nicolai Thomson, CEO of Jenesys AI, added: "These regulated tasks must be done, so outsourcing them to low-cost labor is not only unsustainable;And it's a missed opportunity to use AI to improve efficiency and accuracy. He also highlights Jenesys AI's unique approach: "Our software is designed for all employees, not just finance professionals. Jack gets to work when an employee requests company funds via Slack or Teams, taking over most of the data entry and manipulation tasks, allowing the accountant to focus on verification and analysis. ”
Jenesys AI's innovative model provides accountants with a completely new solution that can greatly improve work efficiency and accuracy by introducing the AI assistant "Jack". Not only can Jack automate a large number of bookkeeping, fraud checking, and compliance checking tasks, but it can also update budget data in real-time and make payments in accordance with the company's policies and regulations. This means that accountants can be freed from tedious data entry and manipulation work and focus more on verification and analysis. 
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In addition to improving productivity, Jenesys AI also provides businesses with a faster and more convenient way to pay. By enabling instant reconciliation, the speed of **chain payments even exceeds that of credit card payments. This is important for businesses that need to pay their merchant or customer bills in a timely manner. In addition, Jenesys AI also offers a more flexible payment method, which can choose domestic or global payment methods according to different situations to meet the various needs of businesses.
The success of Jenesys AI is inseparable from its strong team and technical strength. The founders, Nicolai Thomson and Tosin Dairo, both have a wealth of industry experience and expertise. Their collaboration has enabled Jenesys AI to develop forward-thinking and innovative products that are recognized and supported by the market. In addition, Jenesys AI has also established cooperative relations with many well-known investment institutions, providing strong financial support for its development. 
Add ** annotations, no more than 140 words (optional) With the continuous development and application of AI technology, Jenesys AI is expected to play a greater role on a global scale. Its innovative products and solutions will provide enterprises with more efficient and accurate financial management services, help them solve cash flow problems, and enhance competitiveness. At the same time, the success of Jenesys AI also provides reference and inspiration for innovation in other fields, demonstrating the potential and value of AI in business applications.
In conclusion, Jenesys AI, a startup dedicated to improving the efficiency and accuracy of accountants, has automated the processing of bookkeeping, compliance, and global payments by introducing the AI assistant "Jack". Its innovative model and technological advantages make it stand out in the highly competitive market and have won the support and recognition of investors. With the continuous development and application of AI technology, Jenesys AI is expected to play a greater role in the world, providing enterprises with more efficient and accurate financial management services and promoting the development of the entire industry. 
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