Kennek Secures $12.5M Seed Funding for Lending Platform Expansion

Published 6 months ago

Lending infrastructure provider, Kennek, has recently finalized a $12.5 million seed funding round. This comes only nine months following its pre-seed round. The funding was spearheaded by HV Capital, with support from the Dutch Founders Fund, AlbionVC, FFVC, Plug & Play Ventures, and Syndicate One. The round, which was oversubscribed, was completed in a swift 10 weeks, with all existing investors partaking.

Transformative Funding for Kennek

According to Kennek founder Xavier De Pauw, the recent funding will drastically shape the future of the company, allowing it to be more strategic and gain increased credibility and trust. Kennek has successfully enlisted the support of serious investors who believe in the company’s vision. This faith has encouraged customers to trust and use Kennek’s services.

Kennek’s All-in-One Lending Platform

Kennek is striving to create a comprehensive platform which caters to all aspects of a lending operation from underwriting to monitoring and servicing. The recent funding will be directed towards the continuous development of its core technology proposition. This will also aid in doubling Kennek’s workforce from approximately 20 to around 40 employees.

Expansion into Europe

In addition to its UK operations, Kennek is expanding into Europe, having already signed its first client on the continent. The company is also looking to serve various types of lenders, including SME lenders and bridge lenders. De Pauw believes that while the company is experiencing growth and acceleration, it is also demonstrating its ability to cater to a diverse range of clients without overextending its reach.