Pre-Seed28 July 2023

SuperFi secures £780k in pre-seed funding led by Ascension to expand its debt prevention platform.

The pre-seed round was led by Ascension and includes grant backing from the Greater London Authority.

£780KPre-Seed

SuperFi operates a debt prevention platform that helps users manage bills and credit commitments to avoid financial crisis. The company partners with organisations to support vulnerable customers and reduce arrears.

SuperFi has secured £780k in a pre-seed funding round to support its debt prevention platform during the cost of living crisis. The investment was led by Ascension alongside its impact fund Fair By Design, with participation from Force Over Mass, Antler, and a grant from the Greater London Authority. The capital will enable the company to secure FCA innovation sandbox authorisation and launch partnerships with London boroughs.

The London-based fintech startup aims to assist the millions of UK adults struggling to pay monthly bills who currently fall outside formal debt solutions. The platform analyses user circumstances to provide appropriate debt management tools and services. SuperFi also completed its fundraise on the Floww fundraising platform, surpassing its target in just over 24 hours.

From the founder

"We believe that debt management should be proactive, not reactive. Our goal is to help millions of people struggling to pay their bills and credit commitments better manage their debt before it becomes a crisis. In doing so, we believe we can help British people during the cost of living crisis – saving businesses and society billions associated with problem debt."

Tom Barltrop

CEO at SuperFi

Investor perspective

"We are thrilled to be supporting SuperFi in its mission to tackle the UK’s growing debt crisis and improve financial well-being for individuals and communities. With over £1.6 trillion in personal debt in the UK alone, the scale of the problem is massive, and SuperFi’s innovative platform is uniquely positioned to address it through a partner based business model that remains on the consumers’ side as the business scales. We look forward to helping the team achieve their vision."

Emma Steele

Partner, Ascension