1. Tell us about yourself / your co-founder(s)
I am Ajit Barik, the founder of Wyzr. I spent 15 years in financial services, including 11 years as a trader at Deutsche Bank. I studied computer science at one of India’s top engineering schools and started my career as a developer. Before Wyzr, I built a bootstrapped personal finance app and later pivoted to a B2B AI-powered CFO solution.
2. What problem or opportunity do you address, and for which target customers?
Small business owners lack affordable and timely financial expertise to manage their business finances and cash flows effectively.
We target micro-enterprises (sector-agnostic) and early-stage startups (bootstrapped/pre-seed/seed) that cannot afford a finance team. Initially focused on the UK market (5.3M micro-SMEs), with plans to expand globally.
3. What is your solution, who do you compete with, and why do you win?
A: Wyzr offers an AI-powered CFO to assist small business owners with financial analysis, planning, and decision-making.
Key advantages of Wyzr:
Time-saving: Reduces up to 90% of manual work compared to spreadsheets.
Speed: Instant responses vs. hours/days with traditional CFOs.
Cost-effective: 1/20th the cost of hiring a fractional CFO.
Jargon-free: Simplifies complex financial terms.
Tailored for small business owners: Unlike accounting software designed for finance teams.
Proactive AI CFO: Improves over time based on user interactions.
Competitors: Fractional CFOs, Spreadsheets, DIY financial management, Complex accounting software.
4. Relevant industry trends or market shifts to watch?
Increased focus on financial management due to economic uncertainty. (Xero Report)
Growth of AI and automation enabling smart financial tools.
5. What is your company’s current stage and traction?
Completed pre-seed funding in October 2024.
Running a closed beta with 30 businesses.
110+ businesses on the waiting list for beta access.
Conducted 100+ interviews with small business owners.
Selected for NatWest Bank’s accelerator, gaining visibility and backing from NatWest Bank, which has 1.5M small business customers.
6. Plans for the next 6-18 months & how can the network help?
Next 6 months:
Commercial launch in Q1 2025.
Open next funding round in Q2 2025.
Next 7-18 months:
Activate distribution partnerships in Q2 2025 (Interest from ~10 distributors, including accountants, fractional CFOs, and the Federation of Small Businesses).
Expand marketing, partnerships, and engineering teams.
Plan for international expansion (Interest from Australia, India, Southeast Asia).
How FinTech Forum network can help: Introductions to investors, talent, and distribution partners.
7. What’s on your bookshelf or podcast app? Favorite place for coffee/drinks?
Podcasts:
Practical Founders by Greg Head
The School of Greatness by Lewis Howes
Books:
Thinking, Fast and Slow – Daniel Kahneman
The Hard Thing About Hard Things – Ben Horowitz
The Lean Startup – Eric Ries
Favorite hangout spots in London:
Horseshoe Pub
Belsize Stag (Hampstead area)