Fennech Financial, an innovator in the financial technology sector, is pleased to announce that it has successfully raised £2.3 million in its latest round of funding.
The investment round was “led by Lloyds Banking Group, who contributed a substantial £2 million, alongside some high-profile individual investors.”
This investment “underscores Fennech Financial’s continued growth and commitment to delivering innovative financial solutions for our clients.”
With this new funding, Fennech Financial will be able “to accelerate its product development, expand its team, and further establish itself as a leader in the fintech industry.”
Emmanuel De Rességuier, CEO of Fennech, said:
“We are thrilled to partner with Lloyds Banking Group on this important fundraising round. As a leading provider of financial services to businesses and individuals in the UK, their investment in Fennech is a testament to the strength of our business and our team, as much as a testament to their willingness to further help their client base thanks to strategic technology and digitalisation. With this new funding, Fennech is well-positioned to continue its growth and success. We are extremely grateful for the support of Lloyds Banking Group. I would also like to thank and warmly welcome, on behalf of the team, our new Individual investors that joined this fundraising round for their trust and support. Equally, I want to take this opportunity to express my sincere gratitude to the past investors who have been there for us and are still here with us.”
Kirsty Rutter, Director of Fintech Investment at Lloyds Banking Group, said:
“Our investment in Fennech forms part of our commitment to supporting the fintech ecosystem in the UK and expanding our client capabilities through the use of cutting-edge technology. Lloyds Banking Group’s investment marks a significant endorsement of Fennech Financial’s vision and strategy. This collaboration will pave the way for future opportunities and contribute to the strengthening of the fintech ecosystem.”
Fennech would like to “extend its deepest gratitude to its new and existing investors for their continued support.” This funding will play “a crucial role in driving growth, innovation, and customer satisfaction.”
As noted in the update, Fennech claims it is “a next-generation corporate banking platform delivering real-time hyper-automation of finance, treasury, and payment solutions.”
Utilizing artificial intelligence (AI), machine learning, and predefined business rules within a cloud-based system, Fennech says it “streamlines financial, treasury, and payment operations for businesses and financial institutions in real-time. Acting as an intermediary between businesses and the banking sector, its autonomous platform provides customers with a unified, single platform to automate and manage their accounts, payments, funding, and liquidity across a diverse range of banking partners globally.”