Lenkie eyes growth with £49 million backing

A fintech operator supporting smaller firms’ growth has unveiled expansion plans after securing £49 million backing.

Lenkie is targeting new markets and industry partnerships following equity and debt support.

Bosses say the cash will also bolster the company’s underwriting models that help SMEs access working capital.

Founded in 2021 by Sanjeev Jeyakumar and Nnaemeka Obodoekwe, London-based Lenkie has overseen funding of more than £70 million to SMEs and payments to 2000 suppliers across 40 countries.

Sanjeev, Lenkie chief executive and co-founder, said: “By financing specific transactions, we’re creating a new model of inclusion that aligns with how modern businesses operate and grow.

“By removing friction and making access to capital effortless, we could unlock immense potential and help entrepreneurs realise their ambitions.”

The company’s funding round was led by a US private credit fund.

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