Lenkie, a cashflow management platform, has raised £49 million in Series A funding to enhance its payables financing for UK SMEs, targeting a £22 billion funding shortfall. Founded in 2021, Lenkie allows businesses to cover essential costs by paying suppliers upfront, utilizing real-time data for quick underwriting to streamline the borrowing process. With over £70 million financed across 40 countries, the company aims to refine its operations and expand its market reach, supporting smaller enterprises crucial to the UK economy amidst a retreat from traditional lending.
By financing specific transactions, we're creating a new model of financial inclusion that aligns with how modern businesses operate and grow.
Lenkie's tailored model could prove pivotal in addressing the £22 billion shortfall in UK SME funding as banks continue to retreat from lending.
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