Lenkie funding news – London-based Lenkie Secures €62.2 Million in Series A Round Funding

The funding includes €5 million in equity and €57.2 million in debt, led by a large US private credit fund supporting international lenders.

Sanjeev Jeyakumar, CEO and Co-founder of Lenkie, says: “At its core, all lending is built on a foundation of trust. We’re able to use data and technology to understand the nuances of each business to build that trust in seconds. This enables us to provide fast and flexible capital when it’s most impactful. By financing specific transactions we’re creating a new model of financial inclusion that aligns with how modern businesses operate and grow.”

It has provided over €89 million in funding to underserved small businesses and made payments to 2,000 suppliers across 40 countries. Using its unique technology and real-time data, the company offers custom financing solutions that speed up the process and improve financial inclusion helping businesses get approvals faster and have a better borrowing experience.

Read also - Fund F funding news – Vienna-based Fund F Closes First Fund at €28Million

It’s story started when Sanjeev Jeyakumar, a former Citigroup credit trader, realized the value of real-time data in reducing risk for financing in underserved markets. He had previously worked on over €2.5 billion in lending across emerging markets.

While creating a B2B marketplace to help small businesses with logistics, he saw how many entrepreneurs struggled with scaling their businesses. Lenkie points out that the SME finance market is changing as banks reduce business lending, leaving a huge €27.9 billion funding gap for small businesses in the UK.

Sanjeev Jeyakumar, CEO and Co-founder of Lenkie said, “The challenge wasn’t a lack of growth opportunities, it was a broken borrowing experience. By removing friction and making access to capital effortless, we could unlock immense potential and help entrepreneurs realise their ambitions,”.

According to Lenkie, even though UK SMEs face a €27.9 billion funding gap, they are responsible for 60% of jobs and 50% of the country’s GDP. The demand for alternative financing is higher than ever. Lenkie’s approach helps ensure that funds are used properly and efficiently, while also being more affordable for SMEs. It aligns with their growth cycles and meets their real-time financial needs.

Ankit Monga, Mongas Kids Wear Limited said, “At the heart of our business is the need to invest in stock, reach new customers, and improve supplier relationships. Lenkie’s credit facility has been critical in enabling us to achieve all three. Lenkie offers an outstanding service and the continuous product innovations ensure an excellent user experience. It’s the perfect solution to help us scale,”.

About Lenkie

Lenkie was founded in 2021 by Sanjeev Jeyakumar and Nnaemeka Obodoekwe. It offers fast and flexible financing solutions for small and medium-sized businesses (SMEs). By using real-time data and payment technology, Lenkie helps businesses get the capital they need exactly when they need it, avoiding the delays of traditional lending.