Securing £710K to help users get access to credit.
In brief:
- For millions in the UK, their low credit score or the lack of it prevents them from borrowing money when they need it. British fintech Noggin HQ was founded to solve the problem and help the 14 million people in the UK who are facing exclusion due to their credit score.
- In a recent development, the FinTech startup founded by two women raised £710K in pre-seed funding. The round was led by Oxford Capital, and supported by Bethnal Green Ventures, SyndicateRoom (invested in Finexos and Silveray), and several domain-specific angels.
- This funding will be used to accelerate the launch of their first product, a price comparison platform, where people can purchase products with fair and transparent credit terms.
What does this mean?
Evangeline Atkinson, CEO of Noggin HQ said: “When I was rejected for a mobile phone contract, what stuck with me was the extreme lack of transparency and control. With 1 in 3 UK adults now estimated to have difficulty accessing products from mainstream lenders, a solution is much needed”.
