Square Peg backs its youngest ever founder in $2.1m Source raise
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The news: AI-powered procurement platform, Source, has raised USD1.4 million ($2.1 million) in a pre-seed round led by Sydney-based VC firm Square Peg.
The numbers: At 17 years old, Source co-founder and CEO Liam Fuller is the youngest founder Square Peg has backed to date. Having turned 18 last month, the Irish-Australian teen met with Square Peg co-founder and partner Paul Bassat earlier this year.
The context: The funding round, which also attracted participation from Brisbane-based TEN13, former Stripe CTO David Singleton and Eucalyptus co-founder Charlie Gearside, is set to expand Source's engineering team and fund US-based pilots.
Headquartered in Dublin, Source helps retail teams make buying decisions using agentic AI. The platform scans inventory and past sales data to generate forecasts and suggest purchase orders using AI, that humans can then edit and approve.
What they said: Bassat, who met Fuller following a cold email outreach, commented: “I've been impressed by many young entrepreneurs, but Liam combines technical sophistication with commercial instincts that are rare at any age".
"We're not just excited by his current vision for Source; we're excited by his ability to navigate and adapt as the business evolves," Bassat said.
"When someone demonstrates this level of execution and strategic thinking at 17, the growth trajectory becomes incredibly compelling.”
The source: Source media release
