HSBC Innovation Banking UK provided the growth financing facility to support artificial intelligence development.
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The London fintech secured $112m in debt financing from HSBC Innovation Banking and BCI Capital to scale its operations internationally.
"The challenge faced by small businesses when seeking finance is indicative of the inflexible lending criteria maintained by traditional banks, which often unfairly categorise SMEs as high-risk borrowers. This issue stems from outdated lending practices and technologies which fail to adequately cater to the needs of smaller, asset-light businesses."