Menna.ai secures £500k investment to launch first small business finance assistant powered by generative AI
Our Corporate & Private Equity team advised Menna on its successful £500,000 investment to launch the UK’s first AI-powered finance assistant for small businesses. The investment, comprising £250,000 from a syndicate of 20 business angels and match-funding from the Development Bank of Wales’ Wales Angel Co-investment Fund, will support Menna’s product development and market growth.
Founded in August 2023 by fintech experts Nick Carlton and Dan Mines, Menna offers real-time transaction alerts, financial forecasts, smart recommendations, savings, and funding offers. Based at Cardiff University’s Social Science Research Park (SPARK), the platform leverages generative AI and real-time data to help small businesses make smarter financial decisions.
The advisory work was led by Partner, Laura Spendiff, and Associate, Emma King as well as other specialists from across the firm. This strategic guidance supported Menna in securing the funding needed to scale its platform, accelerate product development, recruit five tech specialists, and prepare for market entry. The platform is set for a full launch in early 2025.
Nick Carlton, Co-founder of Menna, commented:
As first-time founders, having the experienced team at Capital Law behind us was invaluable. While much of the process was new to us, we always felt supported and well-informed. Laura and Emma were a pleasure to work with, ensuring the legal side of the deal ran smoothly by staying ahead of every detail and keeping us updated throughout. This is just the beginning of what we believe will be a strong and lasting relationship.
Emma King, Corporate & Private Equity Associate at Capital Law, said:
Working with Menna on this investment has been a real pleasure. They are really leading the way in generative AI for small businesses. I am excited to continue supporting them as they continue to innovate and drive change in the sector and move towards becoming a UK fintech leader.
You can read more about Menna here.
