This past week, United Kingdom cashflow management platform Lenkie announced £49 million in Series A funding. The round, which includes £4 million in equity and a £45 million debt facility, was led by a “large US private credit fund focused on supporting lenders internationally.”
Lenkie addresses payables financing – paying suppliers directly on behalf of SMEs at the beginning of a transaction. The solution prioritizes removing growth bottlenecks and unnecessary friction.
Founded in 2021 by Sanjeev Jeyakumar and Nnaemeka Obodoekwe, Lenkie has funded more than £70 million to SMEs and funded payments to 2,000 suppliers across 40 countries. Leveraging proprietary underwriting technology and real-time performance data, the company delivers bespoke financing solutions.
“At its core, all lending is built on a foundation of trust,” Jeyakumar said. “We’re able to use data and technology to understand the nuances of each business to build that trust in seconds. This enables us to provide fast and flexible capital when it’s most impactful. By financing specific transactions we’re creating a new model of financial inclusion that aligns with how modern businesses operate and grow”.
Jeyakumar, a former Citigroup credit trader, said he saw first-hand the power of real-time data to de-risk financing in underserved markets, whilst structuring more than £2 billion in lending across emerging markets. Later, whilst building a venture-backed B2B marketplace helping small business owners access logistics services, he was exposed to thousands of entrepreneurs navigating scaling challenges.
“The challenge wasn’t a lack of growth opportunities, it was a broken borrowing experience. By removing friction and making access to capital effortless, we could unlock immense potential and help entrepreneurs realize their ambitions,” Jeyakumar added.
Despite the £22 billion funding gap faced by UK SMEs, they are driving 60% of employment and 50% of GDP, with high demand for alternative financing solutions. Lenkie said its transaction-based funding model provides businesses with an intuitive, need-based financing solution rather than inflexible, one-size-fits-all loans. This precise approach not only reduces the risk of funds being misallocated or underutilized, it is also more cost-effective for SMEs, aligning with their business growth cycles and matching real-time needs.
Lenkie said it is poised to accelerate its mission of transforming SME financing in the UK. With fresh capital and strong industry momentum, the company plans to enhance its data-driven underwriting models, expand partnerships with leading platforms, and explore new markets.