Seed3 November 2021

Nimbla raises £5.1m in seed follow on funding led by Fin VC to scale its credit risk platform.

Silicon Valley venture fund Fin VC led the investment, with additional backing from Barclays Bank.

£5.1MSeed

Nimbla is a financial technology startup providing digital invoice insurance and credit risk solutions for businesses. The company offers automated risk assessment tools and API integrations to help commercial entities manage B2B debt safely.

Nimbla has secured £5.1m in a seed follow on funding round led by Silicon Valley venture fund Fin VC, with participation from Barclays Bank. The capital will support the company as it scales operations and addresses growing demand for embedded credit risk solutions delivered through its API.

Founded in 2016, the London based fintech has processed over 67m invoices worth £2.5bn. The business experienced a surge in volume during the pandemic as supply chain concerns escalated, prompting the launch of new integrations with banks and alternative lenders.

Chief executive Flemming Bengtsen noted that UK companies added substantial debt to their balance sheets during recent years, creating an urgent need for protection against customer insolvencies. The fresh funds will allow the firm to expand its technological platform and team.

From the founder

"We have been growing steadily over the past few years, ramping up our technology and team to better understand businesses, the nature of B2B debt and to make faster decisions to serve our growing customer base. 2020 was a seminal year for Nimbla, at a time of global crisis, we were there for businesses enabling them to trade with a peace of mind and giving them confidence to carry on. This funding round will enable us to expand our platform, grow the team as we enable a confident and trusted trading environment for businesses across the UK and beyond"

Flemming Bengtsen

CEO at Nimbla

Investor perspective

"Nimbla is giving businesses the confidence to trade again. They have a proven credit risk model and its tech is being adopted by top tier banks and a host of lending platforms. We believe this will scale their reach and help more businesses benefit long term"

Henry Cashin

Head of EMEA, Fin