The Return of Momentum at Series A

By
Jeremy Luzinda
By
Haatch

Across the Haatch portfolio, the last few months have marked a clear inflection point in the UK venture market. After two years of recalibration, disciplined, capital-efficient SaaS businesses are once again raising meaningful Series A rounds, and doing so at valuations that reward fundamentals rather than hype.

For investors, this signals the start of the market’s next phase: capital is flowing downstream again, but it’s flowing towards quality.

From Seed To Series A: The Haatch Production Line 

Given our focus on the pre-seed and seed stage, the first question we often get asked is the rate at which our companies go on to raise a Series A round

Recent activity across our portfolio tells the story clearly:

  • Yaso: The cross-border e-commerce platform enabling Western brands to access Chinese consumers, raised $11 million in September in a round led by Puma Growth Partners, with co-investors including Haatch after initially investing at pre-seed.
  • Toothfairy: The digital dentistry platform transforming patient engagement, secured a $10 million Series A led by LBO France. We invested at seed and doubled down in this latest round.
  • Native Teams: The global work-payments platform, raised $8 million last year and continued to scale rapidly, culminating in Haatch’s 7.4x realised exit in April 2025.
  • CybaVerse: A $8 million Series A, led by Pembroke VCT and Airbridge Equity Partners, reinforcing investor confidence in UK-based cybersecurity innovation. We led at pre-seed and have re-invested.

These rounds represent more than capital raised, they reflect the calibre of the founders we back and the structural health of the ecosystem.

From Seed Discipline To Series A Readiness

At Haatch, we’ve long believed that the best Series A rounds are earned in the seed stage. Our founders build with Series A readiness from day one: lean operations, real revenues, and data-driven credibility. 

This discipline is now paying off. Investors across Europe and the US are once again chasing companies with strong unit economics and genuine market traction, which is exactly the profile Haatch founders have been building for years.

A Supportive Tailwind For UK Innovation

The broader environment is turning positive too. The Mansion House reforms have set in motion a shift in long-term UK capital allocation towards high-growth private markets. At the same time, institutional partners such as the British Business Bank, which recently increased its commitment to Haatch to £20 million through the Regional Angels Programme, are helping ensure that companies emerging from seed have the capital depth to scale confidently.

In short, there is now more capital waiting downstream for the winners that come through our funds.

Why This Matters For Investors Now

Series A momentum within our portfolio doesn’t just validate our model, it strengthens the risk-reward profile for new investors. Every cheque we write at seed stage is now supported by a stronger funding ladder above it.

When the market cooled, capital discipline was the differentiator. As the market accelerates again, that discipline becomes the advantage.

For investors entering through Haatch today, it means backing the next generation of founders who are already building with this clarity,  and who have a proven path to the rounds we’re now seeing close.

The Moment To Capitalise

The UK venture ecosystem has matured. Quality founders are thriving, capital is available, and Haatch companies prove that the model works.

Momentum has returned to Series A, and for investors, the window to enter before valuations adjust upward is now.

Learn more about Haatch’s EIS opportunities or arrange a call with our team to explore current investment availability.

By
Jeremy Luzinda
Partner
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