{"id":1091,"date":"2022-02-10T11:29:26","date_gmt":"2022-02-10T11:29:26","guid":{"rendered":"https:\/\/fintech.global\/globalinsurtechsummit\/?p=1091"},"modified":"2022-04-25T11:17:27","modified_gmt":"2022-04-25T11:17:27","slug":"bostons-new-hub-massrobotics-is-like-a-wework-for-robotics-startups-2-2","status":"publish","type":"post","link":"https:\/\/fintech.global\/globalinsurtechsummit\/bostons-new-hub-massrobotics-is-like-a-wework-for-robotics-startups-2-2\/","title":{"rendered":"Lending company Fintern scores \u00a38m"},"content":{"rendered":"<p><strong>Fintern, which is making loans more affordable, has raised \u00a38m in a capital injection to support its international expansion.<\/strong><\/p>\n<p>This fresh equity will help Fintern bolster its presence in the UK, hire more staff and launch its first B2B partnerships.<\/p>\n<p>Hambro Perks, an international private investment firm, acted as the lead investor. Contributions also came from Varengold Bank and other high-net-worth individuals.<\/p>\n<p>Fintern\u2019s goal is to make it easier for people to access affordable credit.<\/p>\n<p>It claims that despite masses of data being available to lenders, most still base their decisions on a credit scoring system from the 1950s. As a result, more than 15 million people in the UK have unnecessarily high borrowing costs and unsuitable credit products.<\/p>\n<p>It launched its debut consumer lending product in March 2021, and since then over 50,000 loan applications have been processed. The company leverages open banking to understand an applicant\u2019s financial situation.<\/p>\n<p>Fintern COO and co-founder Michelle He said, \u201cI know first-hand what it means to be denied access to vital financial support. When I first moved to the UK, I was unable to get a loan despite my full-time employment. It was incredibly frustrating and exposed many of the issues within the current lending system.<\/p>\n<p>\u201cAfter working within this system with Gerald, we decided we were in a unique position to change things for the better. As we emerge from the pandemic, Fintern is now more relevant than ever for those who seek financial stability and support.<\/p>\n<p>\u201cWe\u2019ve achieved a lot, but there is more to be done, and I am grateful to be part of a team who work tirelessly to make our product even better.\u201d<\/p>\n<p>Following the close of the round, the company has raised a total of \u00a340m in funding, to date.<\/p>\n<p>Osborne Clarke advised Fintern on the fundraise.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fintern, which is making loans more affordable, has raised \u00a38m in a capital injection to support its international expansion. This fresh equity will help Fintern bolster its presence in the UK, hire more staff and launch its first B2B partnerships. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1092,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[38],"tags":[17,18,19],"class_list":["post-1091","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-insights","tag-entrepreneur","tag-freelance","tag-technology"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Lending company Fintern scores \u00a38m - Global InsurTech Summit | The Summit for Insurance Leaders<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fintech.global\/globalinsurtechsummit\/bostons-new-hub-massrobotics-is-like-a-wework-for-robotics-startups-2-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lending company Fintern scores \u00a38m - Global InsurTech Summit | The Summit for Insurance Leaders\" \/>\n<meta property=\"og:description\" content=\"Fintern, which is making loans more affordable, has raised \u00a38m in a capital injection to support its international expansion. 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