Fluidly helps businesses look after every aspect of cash flow in one place, with a range of forecasting, invoice chasing and funding tools. The company will focus on developing Virgin Money’s working capital health proposition using its cash flow analysis and management and scenario planning tools, which will feed into the Bank’s SME wellness tracker, to help customers get an overall view of the performance of their business.

Fluidly’s technology will also help accelerate the Bank’s commitments to enhancing working capital solutions for business customers and data-driven insights for their relationship managers.

Fluidly is the latest FinTech to partner with Virgin Money over the last six months, with collaboration an important aspect of bringing the new business current account to the market.

Gavin Opperman, group business director at Virgin Money, said: “As we move towards the launch of our working capital health proposition in the autumn, which will transform our business current account offer, the positive impact and contribution of our FinTech partners has been clear.

“Adding Fluidly to our team is another important step in that journey. Enabling our customers to understand the financial health of their business is a key part of the new proposition and I’m excited to see how Fluidly’s tools and approach embed into what we are creating for our customers at Virgin Money.”

Caroline Plumb, CEO and founder at Fluidly, added: “Our mission at Fluidly is to help small businesses sleep better at night, so working with Virgin Money on its SME wellness tracker couldn’t be a more perfect fit. Having the money to fund day-to-day operations is absolutely vital for business owners, especially right now. We can’t wait to help make Virgin Money’s working capital health proposition a reality, with the help of our bank-grade data analytics and cashflow forecasting capabilities.”

Fluidly joins other FinTechs, including Strands, Redspire, Waracle, Codat and Life Moments, who have partnered with the Bank over the last six months. The Bank’s innovative approach to business banking also forms part of its commitment to the £35m award from the Banking Competition Remedies (BCR) Capability and Innovation Fund in 2020.

Andrew Falconer, programme sponsor at Virgin Money, commented: “It’s been a busy few months bringing expertise and knowledge together to help build what is going to be a compelling customer proposition. We want customers to benefit from clever, intuitive software, providing a new level of insight to their business that they haven’t had access to before. Our FinTech partners are really helping us bring that goal to life and it demonstrates how valuable collaboration is when bringing new products to market.”

Clydesdale Bank and Yorkshire Bank rebranded to Virgin Money on 17th March 2021 for business customers.