London FinTech Kenneth Raises $4.5M To Empower Lenders
London-based fintech firm kennek has raised $4.5 million in pre-financing. The company has developed a comprehensive operating system designed to facilitate the operations of lenders, loan investors, corporations and service providers in the alternative lending sector.
In its first year of operation, kennek has already hired 20 full-time employees and launched a plug-and-play operating system that serves a wide range of lenders and loan products. The company’s operations in the UK have already generated commercial success for clients in SME lending, R&D lending and commercial real estate.
kennek was founded in 2021 by Thibaut Lankswerth, Edmund Parsons, and Xavier De Pauw to address two key challenges: operational scalability for lenders and investors; and more efficient loan financing. The funding round was led by the Dutch Founders Fund, ffVC and Plug and Play Ventures.
De Pauw, who previously worked in structured finance at Merrill Lynch and created challenger bank MeDirect, knows firsthand the challenges lenders face in the capital markets.
With years of experience in the lending industry, the founders of kennek could see the many operational challenges and challenges faced by lenders. The alternative lending industry still relies heavily on manual workflows and data stored in spreadsheets.
As a result of these outdated processes, lenders are cost inefficient and struggle to access funding from institutional investors who require reliable and connected data as well as reliable and scalable processes. This insight is the foundation of kennek, a vertically integrated SaaS solution that addresses all of these many pain points simultaneously.
kennek’s ultimate goal is to make a scalable and reliable lending infrastructure available to everyone to make it easier for more money to flow into the real economy.
kennek works with existing lenders and banks, as well as new lenders that can be efficiently launched with the full portfolio of kennek lenders. In this way, kennek plays the role of a credit incubator offering credit expertise, a complete operating system and access to institutional financing.
Corporations also use kennek to provide embedded loans and manage the financing of their receivables.
Laurens Groenendijk of the Dutch Founders Fund said: “De Pauw, Lancksweert and Parsons bring together such diverse and necessary expertise to solve the problem of lending inefficiencies”
“The uniquely designed product and credit rails that kennek is building will make it much easier for lenders around the world to launch, operate and scale,” he added.
Xavier De Pau, co-founder and CEO of kennek, said:
“Our goal is to create a single point of truth for all stakeholders in the lending value chain”,
“This will help attract capital from institutional investors to the real economy, such as small and medium enterprises, real estate developers and corporations.”
Post London fintech kennek raises $4.5M to empower lenders first appearing on Fintech Finance.
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