Crediflow AI secures £1.5m Seed investment led by PXN Ventures
The Manchester fintech raised capital from PXN Ventures, Haatch, and angel investors to expand its platform for commercial lenders.
Crediflow AI builds software that automates data gathering, financial spreading, and memo drafting for commercial lenders.
Manchester-based Crediflow AI has raised £1.5m in a Seed funding round to scale its automated commercial lending platform. The investment was led by PXN Ventures through the Northern Powerhouse Investment Fund II, with participation from Haatch and angel investors.
The company has developed artificial intelligence tools designed to eliminate the manual administration involved in processing business loans, such as financial spreading and memo drafting. The fresh capital will be deployed to accelerate product development, expand the engineering team, and help the firm onboard more banks and specialist lenders.
Crediflow currently serves credit institutions across domestic and international markets, reducing the time required to compile borrower information from days to minutes. The latest injection follows earlier backing from the PraeSeed programme.
From the founder
"Growing a loan book takes more than finding borrowers and having capital available. You need the capacity to assess those businesses, get decisions through approval and stay on top of risk once the money is out the door. I’ve spent much of my career doing that work."
Drey Kenfack
CEO and founder at Crediflow AI
Investor perspective
"Businesses of all sizes and across all sectors often rely on commercial finance for a multitude of reasons, but the processes involved in granting this finance are often largely manual, making the process inefficient and slowing down lending decisions. By automating this area of the sector, Drey and the Crediflow AI team are not just supporting lenders but also removing barriers for companies that need funding to grow."
Joe Ball
Senior investment associate, PXN Ventures
Use of funds
- 01Continue product development
- 02Grow the team
Investors
Categories
About the company
Crediflow AI
Crediflow AI automates credit analysis and paperwork for commercial lenders.