Lenkie, a UK-based FinTech specializing in cash flow management, has secured £49 million in Series A funding to expand SME access to capital. The round includes £4 million in equity and a £45 million debt facility, backed by a leading US private credit fund that supports global lenders.
Tackling the SME Lending Crisis
With traditional banks retreating from small business lending, the UK faces an estimated £22 billion funding gap. Many SMEs struggle to secure the financing they need to grow. Lenkie aims to bridge this gap by offering payables financing, a model that directly pays suppliers on behalf of SMEs. This enables businesses to acquire inventory, materials, and services upfront without depleting their own cash reserves.
Unlike conventional lending methods that rely on slow, outdated credit checks, Lenkie utilizes real-time performance data and proprietary underwriting technology to accelerate funding approvals. This data-driven approach eliminates bottlenecks, ensuring SMEs receive capital exactly when they need it.
Proven Impact and Future Growth
Founded in 2021 by Sanjeev Jeyakumar and Nnaemeka Obodoekwe, Lenkie has already facilitated over £70 million in funding, supporting more than 2,000 suppliers across 40 countries.
Lenkie’s CEO, Sanjeev Jeyakumar, emphasized the importance of trust in lending, stating:
“All lending is built on trust. By leveraging data and technology, we can understand each business in seconds, enabling fast and flexible funding. Our transaction-based financing model aligns with how modern businesses operate and grow.”
Vision for the Future
Jeyakumar’s insights into SME financing stem from his experience as a former Citigroup credit trader, where he structured over £2 billion in lending across emerging markets. While building a venture-backed B2B marketplace, he witnessed firsthand the challenges SMEs face in securing capital.
“The issue wasn’t a lack of growth opportunities but a broken borrowing process,” Jeyakumar noted. “By eliminating friction and simplifying access to capital, we can unlock immense potential for entrepreneurs.”
With fresh funding, Lenkie plans to enhance its underwriting models, expand platform partnerships, and explore new markets. By removing traditional barriers, Lenkie is set to empower UK entrepreneurs and drive economic growth for SMEs across the country.
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