Simply Mystro

About Simply Mystro

Simply Mystro, founded in 2021 by Russell Carter, operated in the financial technology sector with a focus on risk-based lending services for supply chains. The company was headquartered in London, United Kingdom.

The firm aimed to address inefficiencies in risk management between suppliers by providing a proprietary rules-based processing engine integrated with SAP technology. This system was designed to deliver a near-instant and secure auto-validation process for buyers, suppliers, and funders, creating a global validation network for supply chain finance. The platform intended to reduce processing time and risk for banking institutions, leveraging a combination of artificial intelligence, machine learning, robotic process automation, and blockchain. It compared key data sets against global anti-money laundering (AML) compliance standards and verified them against politically exposed persons (PEP), sanction, and adverse media databases.

Simply Mystro's target market included global financial institutions, and it had reportedly secured deals with four major banks and a government regulator. The company gained significant early traction, securing £30 million in seed funding within five months of its launch, which valued the company at £200 million. His Excellency Sheikh Faisal Bin Khalid Bin Mohammed Al Qassemi joined as a principal investor and Chairman in November 2021. Despite its promising start, the company is now listed as out of business.