Konstruct Telemedia

UK FinTech Startup Lenkie Secures £49M in Series A Funding for SME Cashflow Solutions

Lenkie, a UK-based FinTech startup, has raised £49 million in Series A funding to enhance cash flow management for small and medium-sized enterprises (SMEs). The investment includes £4 million in equity and a £45 million debt facility, led by a major US private credit fund.

With traditional banks pulling back from small business lending, Lenkie addresses a £22 billion funding gap, offering much-needed alternative financing solutions for SMEs to thrive.

The company provides payables financing, allowing SMEs to receive stock and services upfront while Lenkie takes care of supplier payments. This model helps businesses maintain cash flow without interruption.

By harnessing advanced underwriting technology and real-time performance data, Lenkie speeds up the approval process, enabling SMEs to secure funds quickly and efficiently.

Since its inception in 2021 by Sanjeev Jeyakumar and Nnaemeka Obodoekwe, Lenkie has facilitated over £70 million in funding for more than 2,000 suppliers across 40 countries.

CEO Sanjeev Jeyakumar emphasizes, “All lending is built on trust. We leverage data to swiftly understand each business’s needs, providing fast capital where it matters most.”

Jeyakumar’s vision for Lenkie stems from his career in finance, where he witnessed the power of real-time data in improving lending decisions. His experience led him to realize that entrepreneurs often face a broken borrowing process.

Looking ahead, Lenkie will use its new capital to boost data-driven models, partner with key platforms, and explore new markets, all while supporting UK entrepreneurs and driving economic growth for SMEs.

For essential news and hopeful developments to your inbox, sign up to the konstruct newsletter, which delivers a handpicked selection of features and insights twice a week.

For more science, technology, environment and health stories from the konstruct, follow us on Facebook, Threads and Instagram.