CreditLogic, the Dublin-headquartered FinTech company specialising in lending-as-a-service, has successfully raised €3.5m to propel its expansion across Europe.
This fresh capital infusion comes with contributions from Riverside Acceleration Capital (RAC), part of the global investment entity The Riverside Company, and several individual tech investors, according to a report from Silicon Republlc.
The company, founded in 2018 by former banking executives Eddie Dillon and CTO Gavin Bennett, has carved a niche in the banking sector by drastically reducing the costs associated with acquiring and onboarding customers, as well as issuing new mortgages.
With the new funds, CreditLogic aims to significantly enhance its operational capabilities and broaden its reach throughout Europe. Plans are underway to augment the company’s workforce by adding 15 new full-time positions in Ireland, spanning AI, data science, engineering, and sales, over the next 12 to 18 months.
CreditLogic CEO Eddie Dillon expressed, “Our mission is to accelerate digital transformation in the banking sector, giving consumers the efficient, user-friendly digital experiences they demand and restoring the competitive edge of banks. We’re thrilled to have the support of RAC and our existing investors, who bring a strong track record of success in technology investment.”
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