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

The SME finance landscape in the UK is undergoing a critical transformation as traditional banks pull back from business lending, resulting in a significant funding shortfall. Lenkie, a cashflow management platform established in 2021, has raised £49 million in Series A funding to bridge this gap. This funding, consisting of £4 million in equity and a £45 million debt facility, was led by a major US private credit fund. Lenkie aims to make capital more accessible to SMEs by directly paying suppliers at the start of transactions, a move designed to mitigate growth constraints often faced by small businesses. The platform leverages real-time data and proprietary technologies to streamline the funding process, offering fast, adaptable financial solutions. With substantial traction in the market, Lenkie is set to enhance its data-driven underwriting while broadening its partnerships and exploring new markets, continually striving to empower SMEs and foster financial inclusion across the UK economy.