CreditEnable, a digital marketplace for SMB finance, has reportedly collected $2m in its pre-Series A round.
With this equity, the company will enhance its technological infrastructure and grow its user base, according to a report from TechCircle. The equity was led by Venture Catalysts.
CreditEnable is a marketplace for SME credit, helping to better connect lenders and borrowers. The UK-headquartered company uses AI technology to improve the creditworthiness of SMEs and improve their access to credit. It also enables lenders to ease the identification, assessment and onboarding of borrowers.
The FinTech previously raised $2m last year to help it develop and launch the second-generation product for lenders and borrowers. Prior to that, the company bagged $5m in its seed round, which was backed by investors including Alter, Floreat and Astia.
Earlier in the year, expense management platform Divvy scored $165m in its Series D round, bringing its valuation to $1.6bn. The FinTech’s centralised platform empowers businesses to manage their spend with real-time visibility and control over their budgets by combining free expense management software with corporate credit cards.
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