Funding Xchange secures £8m Series A investment led by Downing Ventures and Gresham House Ventures to scale its lending technology
The funding round was led by Downing Ventures and Gresham House Ventures to accelerate the rollout of white label lending solutions for banks.
Funding Xchange operates a funding technology platform that connects businesses with lenders and white labels its software to financial institutions. The company provides analytics and rapid decisioning tools to streamline SME lending.
Funding Xchange has secured an £8m Series A investment led by Downing Ventures and Gresham House Ventures. The platform provides digital decisioning technology that allows lenders and partners to streamline SME financing.
The company will use the capital to accelerate the rollout of its white label lending in a box solution. This infrastructure enables banks and financial institutions to digitise their underwriting processes and serve business customers more efficiently.
The funding follows a period of growth that has seen the platform integrate with major financial brands and process financing for thousands of UK businesses.
From the founder
"We are delighted that Downing and Gresham House have joined us on our exciting journey to help reshape a sector that is rapidly adopting digital solutions using new data sources to enable the delivery of seamless, instant access to finance. This is creating the opportunity to provide small businesses with the same transparency and ease of access to finance that consumers have become accustomed to."
Katrin Herrling
CEO at Funding Xchange
Investor perspective
"Funding Xchange is delivering digital solutions that respond to some of the biggest challenges that banks and SME lenders face as the market is undergoing unprecedented change – driven by new lenders and solutions changing the market dynamics, availability of new data and increasing regulatory scrutiny. We were impressed by the advocacy Katrin and her team have built for their data-driven approach. Partners like MoneySuperMarket can instantly give small businesses transparency of funding solutions and ensure that customers are always treated fairly. The next phase of Funding Xchange’s growth is now seeing lenders leverage Funding Xchange’s digital technology to provide their customers with instant, personalised quotes while reducing their own costs to serve customers by 70%. As a technology and data analytics business, Funding Xchange’s market insights are already helping banks and lenders build and test funding propositions that respond to customer needs and address the funding gap. This is game changing in a market that has been notoriously opaque."
Daniel Cheung
Downing Ventures
Use of funds
- 01Continue product development
Investors
Categories
About the company
Funding Xchange
Funding Xchange provides a technology platform that connects businesses with lenders and streamlines SME finance.