DueDil, a RegTech 100 company, has received a £3.5m loan from Shawbrook Bank to support its growth plans.
With these funds, the company is looking to scale-up, supporting brand growth, and product and infrastructure development. The company is also looking to continue partnering with companies in the UK, Ireland, and Europe.
The London-based company supports more than 400 companies in the financial services, FinTech and technology sectors. Some of its clients include Transferwise, Santander, Growth Street and Paymentsense.
DueDil is a data and insight platform which helps companies to identify opportunities and better evaluate risks. Through machine learning technology, the company is able to link billions of company data points from authoritative sources to offer companies detailed insights and business information graphs.
Shawbrook director of growth capital Will Chappel said, “The UK technology scene is thriving and there are a growing number of businesses like DueDil disrupting markets or even creating new ones.
“Whilst enjoying the support of great investors and generating real revenues, it’s still very likely that many of these will need debt finance at some point to fund the next stage of their growth. To these companies we simply say: come talk to us.”
Last year, DueDil raised £8m in its Series C round which was supplied by Augmentum FinTech, Oak Investments, Notion Capital and VentuerFounders.
Last year, DueDil was hand-picked by a panel of industry experts for the RegTech 100, a list of companies that every financial institution should know about in 2019.
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