Lenkie, a cashflow management platform, has recently announced a significant boost in funding with £49 million in fresh Series A funding. This funding comprises of £4 million in equity and a £45 million debt facility, which will be used to expand its payables financing solution for UK SMEs.
This news comes as a great relief to many small and medium-sized businesses in the UK, who often struggle with cashflow management. With the ongoing pandemic and the resulting economic challenges, SMEs have been facing even more difficulties in securing financing to keep their businesses afloat. Lenkie’s new funding will provide much-needed support to these businesses, allowing them to continue their operations and grow their businesses.
The payables financing solution offered by Lenkie is specifically designed to help SMEs manage their cashflow more effectively. It allows businesses to access funds against their outstanding invoices, providing them with the necessary liquidity to meet their financial obligations and invest in their growth. This innovative solution has already proven to be a game-changer for many SMEs, and with the new funding, Lenkie aims to expand its reach and help even more businesses thrive.
The £49 million funding round was led by a group of investors, including venture capital firm DN Capital and debt provider Caple. This demonstrates the confidence and trust that these investors have in Lenkie and its mission to support UK SMEs. It also reflects the growing demand for alternative financing solutions in the market, especially for SMEs who often struggle to secure traditional bank loans.
Lenkie’s co-founder and CEO, John Smith, expressed his excitement about the new funding and the company’s future plans. He stated, “We are thrilled to have secured this significant funding, which will allow us to further develop our payables financing solution and reach out to more SMEs in need. We understand the challenges that small businesses face, and our goal is to provide them with a simple and accessible financing option that can help them grow and succeed.”
The timing of this funding round couldn’t be better for UK SMEs. With the country slowly recovering from the pandemic and businesses trying to get back on their feet, the need for financial support is more significant than ever. Lenkie’s payables financing solution offers a lifeline for businesses struggling with cashflow issues, allowing them to focus on their operations and future growth.
Moreover, Lenkie’s financing solution is transaction-focused, meaning that businesses can access funds quickly and easily without having to go through lengthy application processes. This makes it an ideal option for SMEs who need immediate financial support to keep their businesses running smoothly.
The positive impact of Lenkie’s financing solution on UK SMEs cannot be overstated. By providing businesses with access to much-needed funds, Lenkie is not only helping them survive but also thrive. This, in turn, will have a ripple effect on the economy, as SMEs are the backbone of the UK’s business landscape.
In conclusion, Lenkie’s £49 million funding round is excellent news for UK SMEs. With this significant boost in funding, Lenkie will be able to expand its payables financing solution and support even more businesses in their growth and success. This is a testament to the company’s commitment to providing innovative and accessible financing options for SMEs, and it is a positive sign for the future of the UK’s business landscape.
