2 years ago

kennek Raises €11.8 Million to Streamline Non-Bank Lending

  • kennek, a London-based fintech offering an operating system for lenders, has secured €11.8 million in seed funding led by HV Capital

  • The platform aims to simplify and streamline the non-bank lending sector by providing a comprehensive solution for lenders, covering all aspects of their operations

  • The funding will be used to expand kennek's reach in the UK and continental Europe, as well as further develop the platform's functionality

  • The raise comes amid a period of rapid growth in the private credit market, with banks facing tighter regulatory capital requirements and rising borrower defaults.

      • ProblemFinancial Services

      "Lenders in the non-bank lending sector have to rely on outdated tools and data, making it costly, time-consuming, and inefficient to manage their operations."

      Solution

      "kennek provides a SaaS platform that streamlines lending operations, from underwriting to monitoring and servicing, leveraging APIs to create a single source of truth for lenders, borrowers, and investors."

      Covered on