The alternative lending FinTech plans to use the Seed funding to expand its tech team and explore European markets.
In brief:
- The London-based FinTech’s mission is to eliminate the complexity and inefficiency that has for years held back the huge non-bank lending sector.
- kennek’s vertical SaaS offering covers every aspect of a lender’s operations, from loan underwriting to monitoring, servicing and investor reporting. It describes this as a ‘single point of truth’ for lenders, borrowers and investors.
- The round was led by HV Capital and supported by Dutch Founders Fund, AlbionVC, FFVC, and Plug & Play Ventures and Syndicate One.
What does this mean?
“Lenders are really just at the start of the digitalisation 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,” said Xavier De Pauw, co-founder. Having already achieved strong traction in the UK, the raise will also be used to expand its geographic reach into continental Europe following the recent signing of its first client there.
