Fennech Financial raises £2.3m led by Lloyds Banking Group to accelerate product development.
Lloyds Banking Group led the round with a £2m contribution to support product development and team expansion.
Fennech Financial provides a cloud-based corporate banking platform that automates finance, treasury, and payment operations. The company uses artificial intelligence and machine learning to help businesses manage accounts and liquidity across global banking partners.
Fennech Financial has secured £2.3m in a funding round led by Lloyds Banking Group, which contributed £2m alongside individual backers. The capital will be deployed to accelerate product development and expand the team.
The injection of fresh capital marks a significant step for the London-based fintech firm as it scales its automated corporate banking infrastructure. Lloyds Banking Group noted that the transaction forms part of its broader strategy to support the domestic fintech ecosystem through advanced technology partnerships.
From the founder
"We are thrilled to partner with Lloyds Banking Group on this important fundraising round. As a leading provider of financial services to businesses and individuals in the UK, their investment in Fennech is a testament to the strength of our business and our team, as much as a testament to their willingness to further help their client base thanks to strategic technology and digitalisation. With this new funding, Fennech is well-positioned to continue its growth and success. We are extremely grateful for the support of Lloyds Banking Group. I would also like to thank and warmly welcome, on behalf of the team, our new Individual investors that joined this fundraising round for their trust and support."
Emmanuel De Rességuier
CEO at Fennech Financial
Investor perspective
"Our investment in Fennech forms part of our commitment to supporting the fintech ecosystem in the UK and expanding our client capabilities through the use of cutting-edge technology. Lloyds Banking Group’s investment marks a significant endorsement of Fennech Financial’s vision and strategy. This collaboration will pave the way for future opportunities and contribute to the strengthening of the fintech ecosystem."
Kirsty Rutter
Director of Fintech Investment, Lloyds Banking Group
Use of funds
- 01Continue product development
- 02Grow the team
Investors
Categories
About the company
Fennech Financial
Fennech Financial provides an automated corporate banking and treasury platform for businesses.