Scayl, a pioneering debt financing platform, has successfully secured €100m in funding to empower European FinTech lenders.
This significant financial injection marks a crucial milestone for the company, which operates at the intersection of technology and finance, facilitating the growth of loan books for FinTech entities across Europe.
Founded by a seasoned team comprising Medjit Yalmaz, Patrik Blomdahl, and Jatin Goyal—veterans in venture capital, private credit, and FinTech lending—Scayl steps into the limelight with a clear mission. The founders, drawing from their extensive experience in sourcing, investing, and raising capital for SME and consumer loans, aim to revolutionize how FinTech lenders access debt financing. Their innovative platform offers transparent, flexible funding solutions, enabling lenders to bypass traditional, time-consuming negotiation processes with banks and credit funds.
Scayl’s launch comes at a time when Europe’s macro-economic landscape is becoming increasingly challenging for FinTech lenders. Rising base rates and a heightened risk of defaults have pressured lenders’ unit economics. Scayl’s solution, therefore, offers a much-needed lifeline, providing a more efficient and cost-effective funding route, thus enabling lenders to capitalize on the substantial market void left by incumbent banks.
The heart of Scayl’s offering lies in its sophisticated technology platform, which facilitates real-time data monitoring and AI-enabled risk modelling. This approach vastly outstrips the traditional methods employed by financial institutions, connecting FinTech lenders with a dynamic network of financing partners. The platform’s efficiency not only simplifies the funding process for lenders but also opens up new avenues for SME and consumer credit financing across Europe.
With an existing network of nearly 100 lenders and a demand exceeding €1bn, Scayl is already making significant strides in reshaping the landscape of debt financing for FinTech lenders. A partnership with a Northern European bank further underscores the platform’s potential to streamline the provision of funds to lenders through its innovative platform.
Medjit Yalmaz, CEO and Co-founder of Scayl, shared his vision, “There is a 400 billion euro funding gap in Europe alone, and it will be FinTechs, not banks, taking advantage of the opportunity. By supporting these FinTechs and helping them fill this gap, we expect to facilitate the growth of many unicorns for years to come, and we’re extremely excited by that.”
Scayl’s initiative marks a pivotal shift towards more founder-friendly, efficient, and lower-cost debt capital provisions for FinTech lenders. The company is poised to expand its network, connecting banks and credit institutions across Europe, thereby setting the stage for future expansion into other regions.
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