Lenkie Secures ￡49M to Transform SME Financing in the UK

Lenkie , a UK-based fintech startup, has raised ￡49 million in Series A funding to revolutionize the way small and medium-sized enterprises (SMEs) access capital. The funding round, which includes ￡4 million in equity and a ￡45 million debt facility, was led by a major US private credit fund. This investment aims to address the ￡22 billion SME funding gap in the UK, as traditional banks retreat from business lending.

Founded by Sanjeev Jeyakumar and Nnaemeka Obodoekwe in 2021, Lenkie focuses on payables financing, paying suppliers directly on behalf of SMEs at the beginning of a transaction. This unique approach ensures businesses can secure the resources they need upfront, reducing growth bottlenecks and unnecessary friction. Leveraging proprietary underwriting technology and real-time performance data, Lenkie offers fast, flexible funding solutions tailored to the needs of modern businesses.

With over ￡70 million already funded to underserved SMEs and payments made to 2,000 suppliers across 40 countries, Lenkie has demonstrated strong market traction. The new capital will be used to refine their data-driven underwriting, scale partnerships with major platforms, and potentially enter new markets, empowering SMEs to thrive and drive economic growth.

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