Muse enables business owners to easily see what the next 30 days look like and highlights any cash shortfall – and if there is one, we provide cash by buying the invoice.
Muse is a five-person team that has launched invoice finance in March 2019 and have factored £9 million to date. In December 2019, Muse launched the cash flow snapshot on the App Store and are now awaiting regulatory approval to launch their third product: Bank Dashboard, which uses open banking to connect bank and credit cards so that businesses have a real-time snap shot of their cash position.
80% of businesses fail because of cash flow – not because their business is bad but because their clients are not paying. The system is broken. Muse is on a mission to enable businesses to thrive by providing a solution to late payments so that they can focus on their muse.
- Ann Marie Juliano - CEO
- Simon Johnson - CTO
Q and A with Ann Juliano, Founder and CEO, Muse
What inspired you to go away and solve the problem you are addressing?
The issue was easy— when I launched my first business I was frustrated with how much time I spent chasing invoices and knowing what expenses were due. It felt like there should be a better way and that it should be simple. Hence, I created Muse to do exactly that plus help bring cash flow sooner so that companies do not have to wait to get paid.
What tips would you give an aspiring entrepreneur?
It’s important to really believe in what you are doing and why you started the business. You will be challenged constantly but do not give up and keep going! It is important to believe in yourself.
What's the hardest part of being a founder?
No matter how well you do or don’t do, you will always be judged. The people that you would expect to provide support might disappoint you. This is where it is important to be comfortable that some people just will not understand what you are doing and why. If they did and it was so simple, perhaps the issue you are solving for would already have be solved. It’s important to remember that for all the people that disappoint you, there are some people out there that will surprise you- in a good way. Remember those people and shove the other disappointing ones to the side quickly.
If you weren't building your startup, what would you be doing?
Building another startup! The list is large! I would love to invest in startups that are not traditional (I do it now on a very small scale). However, my goal would be to deploy significant funds towards female-led business owners because I know first hand how hard it can be and the challenges associated with it. Beyond providing capital, I would want to provide access to good resources that would enable female-led companies to flourish.
I am also very interested in helping communities that are in need of growth and ways that industry can be brought to regions that need it most. Given how mobile the workforce is these days, good tech developers shouldn’t just be located in London or outsourced to other “cheaper” countries. I believe there could be a lot of gain for the UK by growing educated workforces in areas that are outside of the large metropolitan cities. It would be a dream to be able to offer educational and then job opportunities to communities that perhaps once had industry and no longer do.
And lastly, along those lines, the homeless population in the UK among teens and young adults is high. It is a big issue and one I am not as educated around but if I had the time, an area where I would like to be more focused.
What gets you out of bed in the morning?
This is a hard one— especially in winter! My biggest motivation is progress. Some days are better than others but if I take it one step at a time and then look back at the year and am quite impressed with what I achieved. Of course, I always want to achieve more faster - which might be what gets me out of bed- but it’s really great to look back and be able to see progress.