London-based FinTech company Kennek has raised £10.2 million in seed funding to transform the alternative lending landscape. Kennek aims to eliminate the complexities and inefficiencies in the non-banking lending sector with its vertical SaaS offering that covers everything from loan underwriting to monitoring, servicing, and investor reporting. The platform provides a single point of truth for lenders, borrowers, and investors, reducing reliance on unconnected tools and data. The round was led by HV Capital, with participation from Dutch Founders Fund, AlbionVC, FFVC, and Plug & Play Ventures and Syndicate One. Kennek intends to use the funding to expand its geographic reach into continental Europe, following the signing of its first client there. Until now, lenders had to rely on Excel and hard-coded data. Kennek’s innovative solution caters to all types of business-to-business loans, such as bridge and development loans, SME term loans, R&D, and grant advances. Co-founder Xavier De Pauw said, “Lenders are really just at the start of the digitalization journey. Kennek is here to help accelerate that journey and provide them with the tools to capitalise on the growth of the non-bank lending space.”
London-based FinTech company Kennek has raised £10.2 million in seed funding to transform the alternative lending landscape. Kennek aims to eliminate the complexities and inefficiencies in the non-banking lending sector with its vertical SaaS offering that covers everything from loan underwriting to monitoring, servicing, and investor reporting. The platform provides a single point of truth for lenders, borrowers, and investors, reducing reliance on unconnected tools and data. The round was led by HV Capital, with participation from Dutch Founders Fund, AlbionVC, FFVC, and Plug & Play Ventures and Syndicate One. Kennek intends to use the funding to expand its geographic reach into continental Europe, following the signing of its first client there. Until now, lenders had to rely on Excel and hard-coded data. Kennek’s innovative solution caters to all types of business-to-business loans, such as bridge and development loans, SME term loans, R&D, and grant advances. Co-founder Xavier De Pauw said, “Lenders are really just at the start of the digitalization journey. Kennek is here to help accelerate that journey and provide them with the tools to capitalise on the growth of the non-bank lending space.”
