London-based Ormsby Street is the fintech firm behind CreditHQ, the digital tool that helps 27,000 small businesses across Europe control their finances.

Using multiple data sources, including a company’s own accounts and credit data, CreditHQ addresses late invoice payment and poor cash-flow by providing insight into how businesses should trade with their customers and what action they should take to reduce risk of non-payment.

Founded in January 2014 by Martin Campbell, formerly of hubbub.net, and John David and Eamon O’Dwyer, both of cloud services marketplace provider, BCSG, the company now has 12 employees. It works with some of the UK’s biggest banks, including Deutsche Bank in Germany and Italy, helping them to provide a service to their small business customers.

Businesses using CreditHQ are around 30% less likely to fail during their first year than those who don’t, the company claims. Ormsby Street’s projected turnover for 2016/17 is over £2m.