Seapoint is the brainchild of Sean Mullaney, who was previously European CIO at Stripe, CTO at AI unicorn Algolia, and has advised the ECB and the Bank of England.He argues that European companies with 10 to 250 employees are poorly served by today’s financial institutions. They are too big for neobanks, who cater to consumers and the smallest businesses, but not big enough for traditional corporate banking - they are stuck in the middle with no clear financial home. This means, according to Seapoint’s research talking to founders, that these mid-market firms are working with a financial stack that is fragmented, manual and costly. Depending on their stage, startups use four to six different financial products, moving money between them and relying on expensive accountants to stitch things together.Already launched in private beta, dozens of VC-backed startup are using Seapoint’s business account that handles payroll, expenses, invoice payments, reporting and more. The firm is not a bank but provides e-money accounts through a deal with Dutch firm Modulr Finance.Mullaney has put together a team of former colleagues from Stripe’s European payments operations and executives from Tide. Meanwhile, investors include Frontline Ventures, Tapestry VC and the ex-COOs of Stripe, Revolut, Tide and Tines.Mullaney says: "AI can transform finances for scaling companies. Within minutes, Seapoint connects to a company’s bank accounts, its accounting software and email. At which point we can give them a real-time view of their business, automate bookkeeping, pay invoices and manage payroll. Seapoint is broader and more powerful than traditional banking. And it puts founders back in control of their finances."