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Fintech firm Funding Xchange secures $10.3m in venture capital funding

Fintech firm Funding Xchange secures $10.3m in venture capital funding

"Business funding fintech firm Funding Xchange today announces the completion of an £8m ($10.3m) funding round, led by Downing Ventures and Gresham House Ventures. Funding Xchange is a business funding marketplace that has robust partnerships with the likes of MoneySuperMarket, Experian and Monzo, working to provide instant, accurate, and transparent quotes for SMEs.

Businesses are able to request quotes in under four minutes and receive funds in 10 minutes through Funding Xchange's ""world's first intelligent decisioning platform"", which is a big change from how long it usually takes - often many days or weeks.

The funds will be used to accelerate the delivery of Funding Xchange's next generation decisioning system, that will further digitise key steps in the underwriting process and provide more efficient funding solutions to businesses. "

Read the full article on Forbes

 

This article was published in Forbes 17th November 2019

 

Fintech firm Funding Xchange secures $10.3m in venture capital funding, published in Forbes 17th November 2019