Noggin unlocks funding for fairer credit drive

A North-East fintech startup tackling unfair credit access has secured fresh investment.

Noggin HQ has closed the first phase of its latest funding round, designed to expand mainstream credit access across the UK. 

The female-led company has attracted support from Leeds-based regional investor Lifted Ventures, alongside mission-aligned backers including Oxford Capital, Bethnal Green Ventures and SyndicateRoom. 

A second phase of the round is now open to further investors who share the company’s mission.

Evangeline Atkinson, co-founder of Noggin HQ, which addresses the needs of around 9 million UK adults whose credit scores fail to reflect their true financial position and are often excluded from mainstream lenders or are forced into high-cost borrowing, said: “This is an energising step for Noggin. 

“We believe that better credit access shouldn’t only be available to the few, and this investment brings us closer to making that a reality. 

“We're thrilled to have several investors from the North East join us – a region that deeply understands the challenges we’re addressing.” 

Noggin HQ’s nuanced approach assesses real-time spending and behaviours to give a fairer picture of creditworthiness.

Early results indicate the model could unlock a £30 billion unsecured loan market for mainstream lenders and save the UK economy approximately £16.5 billion in interest. 

Jordan Dargue, co-founder of Lifted Ventures, which focuses on increasing capital flow into regional businesses and supporting female-led enterprises, added: “Eva and the team are building something bold and urgently needed. 

“From day one, they’ve shown a rare combination of insight, tenacity and purpose. 

“We’re delighted to have participated in this first tranche and to be part of a brilliant group of female North East investors who believe in Noggin’s mission and its future potential.”

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