B2B software-as-a-service company TurnKey Lender has closed a funding round on $10m.
The round, which comprised of debt and equity, was led by OTB Ventures. Commitments also came from DEG and Vertex Ventures.
With the funds, the company plans to scale across North America, Europe and Southeast Asia.
Founded in 2014, TurnKey Lender aims to democratise digital lending in developing and developed markets through its lending automation and embedded financing software.
It offers an all-in-one SaaS platform that automates every part of the digital lending process.
OTB Ventures co-founder and managing partner Adam Niewinski said, “OTB Ventures, we are proud to be leading this oversubscribed financing round for TurnKey Lender. Having been on the front-line of the company, I have seen first-hand the impressive development of the international client list that the team can deliver in a dynamically growing and highly competitive environment.
“TurnKey Lender has created an AI-based software like no other in the industry and is revolutionising the horizons of innovation within financial services.”
The FinTech company also announced the appointment of Christian Moralesas as the chairman of the board.
OTB Ventures recently joined the $65m Series A funding round of Lithuanian FinTech startup kevin., which offers API-based payment infrastructure that lets companies accept payments directly from a bank.
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