The financing from Paragon will support the guarantor lender in pursuing its growth plans.
"It is extremely rewarding to be able to help UK Credit with additional financing and support the company in its next phase of growth. We are delighted to be working alongside another excellent management team which has successfully built a market leading franchise."
— Lewis Fitzsimons, Senior Director – Structured Lending
Nationwide backs the business banking technology provider through its £50m Venturing Fund.
"The Society continues to invest for the future. Investing in start-ups like BankiFi will help us explore new capabilities and technologies that will help deliver our technology strategy both now and in the future."
Pentech and Outward VC led the Series A round, which will fund sales growth and IT development.
"We are on a mission to democratise public equity offerings. Everyday investors are a vital part of the stock market and yet unable to buy discounted share deals – a longstanding imbalance in the public markets. This is true whether it is a government selling down its holding in a large company or a quoted company is raising growth capital. Our online platform addresses this challenge, giving small investors the same access as traditionally afforded to large institutional investors. We are grateful for the backing of our lead investors as well as our other institutional and angel investors. With their support we are confident of executing our vision quickly and efficiently."