kennek, a pioneering FinTech firm, is diving deeper into the complexities of the lending landscape and has raised recent funding.
According to Tech EU, in a strategic move aimed at expanding its technological capabilities and cementing its presence in the UK, kennek has successfully raised a noteworthy $12.5m in a seed funding round. This crucial investment was spearheaded by HV Capital and witnessed robust participation from Dutch Founders Fund, AlbionVC, FFVC, Plug & Play Ventures, and Syndicate One.
Delving into kennek’s offerings, the firm presents an innovative operating system tailored for lenders, specifically addressing the multifaceted lending issues encountered by non-banking entities. Employing a SaaS (Software as a Service) model, kennek provides steadfast support in realms of open banking, open finance, and payments, ensuring lenders can navigate the turbulent waters of financial management with streamlined solutions.
The freshly secured funding is earmarked to facilitate kennek’s strategic ambition of growing its tech team and consolidating its position in the UK market. Furthermore, the FinTech firm sets its sights on exploring viable opportunities across the broader European landscape, eyeing potential markets and collaborations that align with its innovative lending solutions.
Displaying a commendable feat in the current investment climate, kennek declared its funding round notably oversubscribed, bringing it to a close within an impressive ten-week span since its inception.
kennek founder Xavier De Pauw commented, “Until kennek, lenders had to devote countless hours to menial operational tasks and deal with jumbled and hard-coded data – which makes every other part of lending a headache. As former lenders ourselves, we lived and breathed these frustrations, and built kennek to make them a thing of the past.”
HV Capital partner Barbod Namini shared insights into their investment, remarking, “kennek has developed an ambitious and genuinely unique proposition which we think can be the foundation of the entire alternative lending space. It is a complicated market and a solution that brings together all information and stakeholders onto a single platform is highly compelling for both lenders & the ecosystem as a whole.”
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