Funding Xchange secures Series B funding investment from Foresight Group

Publication:
3rd July 2024


Funding Xchange, an innovative Fintech focused on the SME lending space, has secured a follow-on investment from Foresight Group a leading investment manager in real assets and capital for growth, and existing investor in Funding Xchange.

This investment has been made by the ventures team at Foresight, which invests into the most disruptive companies led by the most exciting entrepreneurs from Seed through to Series A across deep tech, enterprise software and innovative technologies.

The Series B round is being led by Barclays Bank and the investment will accelerate Funding Xchange’s ability to drive ecosystem adoption of the digital tools that promote transparency, positive customer outcomes and more efficient lending processes for banks and lenders.

Funding Xchange provides white-label software solutions for banks and lenders and is also developing industry-wide solutions that join-up the SME finance ecosystem, deliver greater transparency and ensure businesses can access suitable products that address their needs.

Funding Xchange products have been adopted by 80 of the most innovative high street banks, challenger banks and specialist lenders. The company has been recognised as a leading innovator in the commercial lending space and has won numerous international awards, including a BCR grant.

Richard Lewis, Managing Director in the ventures investment team at Foresight, commented: “We are delighted to continue to back Funding Xchange in their mission to transform an industry ripe for the adoption of digital technologies. Katrin and the team have built an impressive technology and insights platform which is delivering value to clients and has significant potential to scale. We are excited about the prospects for the business.”

Katrin Herrling, CEO and co-founder of Funding Xchange, commented: “We are thankful to Foresight for their continued support of our business. This investment creates a unique opportunity for Funding Xchange to drive the transformation of the wider SME lending ecosystem. We are delighted that Foresight shares our vision focused on rapidly unlocking tangible benefits for businesses and banks.”

For more information contact Sarah Hollyhead, MD of Funding Xchange (Sarah.Hollyhead@fundingxchange.co.uk)

About Funding Xchange

Funding Xchange’s mission is to transform customer engagement and insight throughout SME lending. The company, founded in 2014, offers an SME marketplace which incorporates digital eligibility and affordability assessment tools. Via its FXE Technologies arm, the company develops SaaS solutions for credit decisioning and monitoring and works with over 80 banks, brokers and other financial institutions.

FXE Technologies supplies a suite of digital SME lending solutions that enable banks, brokers and lenders to instantly triage customers against underwriting models while transforming customer conversion and engagement. FXE’s solutions cover the full lifecycle of SME credit decisioning and monitoring and include Embedded Lending, SmartFinanceHub and Portfolio Monitoring:

  • Embedded Lending provides SME customer triage based on eligibility and affordability and helps lenders and brokers to increase customer engagement with SMEs directly, while keeping operational costs low and increasing conversion rates.
  • SmartFinanceHub provides a single point of access to connect commercial finance funders and brokers. The platform drives deals funding volume and reduces admin by generating high quality, compliant proposals with secure submission and real-time validation of funder appetite.
  • PortfolioMonitoring provides in-life portfolio monitoring of risk exposure and opportunity. The product proactively monitors affordability trends across the whole portfolio, combining background heat mapping with individual customer deep dives.

About Foresight

Founded in 1984, Foresight is a leading investment manager in real assets and capital for growth, operating across UK, Europe, and Australia.

With decades of experience, Foresight offers investors access to attractive investment opportunities at the forefront of change.  Foresight actively builds and grows investment solutions to support the energy transition, decarbonise industry, enhance nature recovery and realise the economic potential of ambitious companies.

A constituent of the FTSE 250 index, Foresight’s diversified investment strategies combine financial and operational skillsets to maximise asset value and provide attractive returns to its investors. Its wide range of private and public funds is complemented with a variety of investment solutions designed for the retail market.

Foresight is united by a shared commitment to build a sustainable future and grow thriving companies and economies.

Visit https://foresight.group for more information.