When Sean Mullaney left his role as Stripe's European chief information officer, he had a thesis: European startups were drowning in finance tools. Payroll in one place, expenses in another, treasury management somewhere else entirely. The fragmentation wasn't just annoying—it was burning founder time at the exact moment when every hour mattered most.
Now Mullaney's answer to that problem, a Dublin-based platform called Seapoint, has secured €7.5 million in seed funding led by 13books Capital. The round, which closed in late April, pushes the company's total raised to €10 million since its founding in January 2025.
It's a compressed timeline, even by fintech standards. Seapoint emerged from stealth last September with a $3 million pre-seed round from Frontline Ventures. Since then, roughly 80 companies have been participating in the platform's private beta testing—a cohort that served as both proving ground and design partners. The fresh capital and public launch suggest Mullaney may believe he's found something resembling product-market fit, according to industry observers.
Michael McFadgen, a partner at 13books, is joining Seapoint's board as part of the investment. Also backing the round: returning investors Frontline Ventures and Tapestry VC, along with syndicates Ventures Together and Portfolio Ventures. The cap table also includes a notable roster of fintech operators—more than 40 angel investors, among them Claire Hughes Johnson (Stripe's former COO), Laurence Krieger (who held COO roles at Revolut and led Tide's UK operations), Intercom cofounder Des Traynor, Kota CEO Luke Mackey, and Tide founder George Bevis.
That's a lot of people who've seen finance operations complexity up close.
Building the 'Financial Home'
Seapoint bills itself as an "AI-native business account"—a designation that means, in practice, consolidating payroll, expenses, treasury management, invoicing, and financial reporting into one dashboard. The platform doesn't try to replace every tool in a startup's finance stack. Instead, it uses open banking connections to pull data from services like Revolut, Stripe, Airwallex, and traditional banks, while offering its own multi-currency GBP and EUR accounts powered by Modulr.
The treasury feature, which launched earlier this year, lets startups park idle cash in money market funds (specifically BlackRock's ICS Sterling Government Liquidity Fund) with same-day liquidity. Yields fluctuate with market conditions, though the company has pointed to rates in the 3-4% range for sterling deposits—a meaningful improvement over zero-interest checking accounts. Seapoint operates as a distributor of Modulr FS Limited for banking services and as an appointed representative of WealthKernel for the investment offerings.
Mullaney, who also spent time as CTO at search company Algolia and as VP of Engineering at Zalando before his Stripe tenure, has assembled a 20-person team drawn heavily from alumni of Stripe and Tide—the two companies that perhaps best understand the European fintech landscape from different vantage points. The company maintains offices in Dublin and London, straddling the two cities that have become fintech hubs in their own right.
"Seapoint aims to be a financial home—an AI-native business account with payroll, expenses, treasury, invoices, and reporting built in," Mullaney said. The pitch is straightforward, if ambitious: one platform instead of five or six. Whether that consolidation proves attractive enough to pull founders away from the incumbent tools they've already wired up remains the question.
McFadgen, for his part, pointed to the team's execution velocity and early signals of fit. Seapoint, he said, has the potential to become "the financial home for the next generation of European companies."
What Comes Next
The new funding will support expansion across Europe—though the specifics of that rollout are still taking shape. On the product roadmap: physical cards, foreign exchange capabilities, USD accounts, and what the company describes as enhanced cash flow forecasting tools, all slated for release next year. Treasury services remain UK-only for now, with European availability planned but not yet scheduled.
Self-service sign-ups are now live for founders in the UK and Ireland, a shift from the invitation-only model that characterized Seapoint's first phase. Whether that opening leads to rapid adoption or reveals hidden friction points in the onboarding experience—well, that's the next chapter. And in fintech, those chapters tend to be written quickly.
For Mullaney, the bet is that startups are tired of Frankensteining their finance operations together. Maybe they are. Or maybe the switching costs are higher than a sleek dashboard and consolidated reporting can overcome. Either way, 13books and a small army of fintech angels are now betting on his read of the market.
