Firenze Secures £2.5m Seed Funding Led by Outward VC
Deal News | Mar 26, 2025 | Business Cloud
Firenze, a Manchester-based FinTech firm, has secured £2.5 million in seed funding led by Outward VC, a known backer of Curve. The company, founded in January 2024 by David Newman and Anna Curtis, aims to redefine Lombard lending by providing wealth managers the ability to offer loans secured against clients’ investment portfolios. Traditionally, Lombard lending has been reserved for clients of private banks with a minimum of £1 million in investments, but Firenze seeks to democratize access to this financial service. The company is already working with wealth managers overseeing around £75 billion in assets and plans to open up over £1 billion in Lombard lending for mass affluent investors within the next three years. The seed round also saw participation from early-stage FinTech investors Form Ventures and Portfolio Ventures, alongside a diverse array of angel investors. With the funding, Firenze plans to expand its reach among wealth managers, enhance advisor support, and elevate awareness about Lombard lending benefits.
Sectors
- FinTech
- Wealth Management
Geography
- United Kingdom – Firenze is based in Manchester, UK, and the article discusses its efforts within the UK finance sector.
Industry
- FinTech – The article discusses a financial technology company focused on innovating and providing financial solutions, particularly in the area of Lombard lending.
- Wealth Management – Firenze collaborates with wealth managers to offer Lombard loans, which are secured against investment portfolios managed by these professionals.
Financials
- £2.5 million – The seed funding amount raised by Firenze, led by Outward VC.
- £1 billion – The target amount for opening up Lombard lending to mass affluent investors over the next three years.
- £75 billion – The total assets under management with which Firenze is collaborating through leading wealth managers.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Firenze | Target Company | Company | A Manchester-based FinTech company focused on redefining Lombard lending by providing loans against investment portfolios. |
| Outward VC | Lead Investor | Company | A venture capital firm that led Firenze's £2.5 million seed funding round, also known for backing FinTech companies like Curve. |
| Form Ventures | Investor | Company | An early-stage FinTech investor participating in Firenze's funding round. |
| Portfolio Ventures | Investor | Company | An early-stage investor involved in the seed financing of Firenze. |
| David Newman | Co-founder | Person | Co-founder of Firenze, spearheading its strategy to broaden access to Lombard lending. |
| Anna Curtis | Co-founder | Person | Co-founder of Firenze, involved in developing the embedded finance platform for Lombard lending. |
| Andi Kazeroonian | Principal at Outward VC | Person | Principal at Outward VC, who has led the funding round for Firenze. |