Downing Ventures and Gresham House Ventures led the oversubscribed financing round to support growing demand for digital SME lending.
"The current crisis has accelerated the trend towards digitisation and the use of intelligent decisioning that uses access to live data. We are delighted that our investors are seeing the significant opportunity to transform SME lending to make funding more accessible, more affordable and more sustainable through the deployment of our intelligent infrastructure."
The funding from Foresight Group will facilitate the opening of a new security operations centre in Lincoln and create new roles.
"After the successful launch of our business in 2016, we required acceleration to the next level and felt that Foresight, with its unique market position, would provide us with that. Foresight has delivered on that expectation and we are excited that our cyber business will be able to go from strength to strength in the years to come."
Kernel Capital increased its backing alongside Accelerated Digital Ventures, Wharton Asset Management, and Clarendon Fund Managers.
"We are delighted to receive this injection of investment from Kernel and our other investors so we can continue our work with existing customers and advance new customer applications."
CMS Ventures has backed the Cambridge clinical analytics start-up in its latest funding round.
"This investment will allow us to grow our team and capitalise on recent partnerships in industry to analyse upcoming clinical trial data in a number of respiratory diseases. Crucially, it will allow us to launch the next iteration of our platform to deeper integrate with large data sets. We are really excited that CMS Ventures has decided to join us on the journey as we scale the company. By unlocking the data from an individual patient journey, we will be able to help many others with the same diseases."
The company completed the largest convertible round in UK crowdfunding history in under 48 hours.
"This round means big things for Chip. The growth we’ve seen this year has been incredible, but it’s time to take the business to the next level. Right now we are presented with a huge opportunity to capture a slice of Europe’s €30 trillion savings market that’s ripe for disruption, and Chip is poised ready to accelerate and dominate this space as a market-defining savings and wealth management app."
