Salt Finance closes pre-seed round to prepare for autumn product launch
The fintech start-up has secured backing for its digital boat finance platform ahead of an autumn product launch.
Salt Finance builds financial technology designed to simplify and streamline the process of boat ownership. The company provides a digital platform combining open banking and professional guidance.
Salt Finance has closed an oversubscribed pre-seed funding round to prepare for its upcoming product launch in autumn 2022. The capital will support the initial commercial rollout of its digital platform, which uses open banking technology to provide instant credit decisions and paperless boat purchases.
The company aims to modernise the marine finance sector by replacing slow traditional processes with real-time digital interactions between borrowers and dealers. Following this initial round, the business plans to raise seed funding to drive further expansion.
From the founder
"Currently boat finance is somewhat broken with relatively few funders to choose from and limited options that encourage clients to actively proceed. Add to this the painfully slow decision times and overall difficulty tracking applications, it is clear the entire process has become both time-consuming and frustrating. At SALT we offer an exclusive one stop boat shop with seamless engagement throughout the purchase journey, plus the provision of full support for insurance, warranty, moorings or service contracts whilst delivering unrivalled convenience for sailors."
Joe Dalton
CEO at Salt Finance
Use of funds
- 01Continue product development
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About the company
Salt Finance
Salt Finance provides a digital platform that streamlines and simplifies boat finance.