Thursday, July 3, 2025
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
No Result
View All Result
Home World Regional News Europe

London-based Fintern picks up €47.5M to Power Fair Finance

Femi Thomas by Femi Thomas
02/19/2022
in Europe
0 0
0
Fintern

Fintern

0
SHARES
Share on FacebookShare on Twitter
Founded in 2020, Fintern is a fast-growing UK-based credit technology platform.
The fintech has just secured an additional €9.5 million, bringing the company’s total capital raised to €47.5 million.
The funding was led by Hambro Perks, with inclusion from Fintern’s primary debt provider, Varengold Bank, as well as other high-net-worth individuals. 

On a mission to make affordable loans available to more people, the London-based fintech is transforming the credit industry.

There is more data available than ever before, we truly do live in a data-run world, yet, most lenders still base their decisions on old-fashioned credit scoring systems.

According to Fintern, this is leaving over 15 million people in the UK facing unnecessarily high borrowing costs and unsuitable credit products.

Fintern uses Open Banking and AI to make better lending decisions and to get a true picture of each applicant’s unique financial situation.

The company looks at a variety of factors – what you earn, how you spend, and what’s left at the end.

By combining this data with several other sources, Fintern can base their lending decisions on what someone can afford to borrow, rather than relying on an incomplete snapshot of the past.

The fintech firm wants to make lending easy, open, affordable and accessible. 

Since launching its consumer lending product in March 2021, Fintern processed more than 50,000 loan applications and proved that this affordable alternative works.

The solution offers the flexibility to manage loan repayments around customers’ personal needs with lower interest rates than the market

. On average, customers who choose to consolidate their debts with Fintern save £1,125 in interest costs compared to traditional lenders. 

The young company claim that with their lending system, credit loss rates are less than half of those that the traditional credit scoring system would have otherwise predicted.

This is achieved while expanding access to affordable credit: over 60% of Fintern’s customers would not have been approved for their loans had they been assessed by traditional methods. 

 

Read more on Tech Gist Africa:

Scandit, the Smart Data Capture Pioneer, gets over €130M and becomes new Swiss unicorn

Munich’s Yoummday Lands €30M to Bring New Work Models into the World of Customer Services

Berlin-based Ada Health raises €26.2M

ShareTweet
Plugin Install : Subscribe Push Notification need OneSignal plugin to be installed.
Femi Thomas

Femi Thomas

Related Posts

Breega Europe
Europe

Breega, an early-stage venture capital firm based in Europe, has launched a $75 million Africa-focused fund

by Tech Gist Africa
07/02/2024
1

Breega, one of Europe's fastest-growing early stage funds, has launched its first African fund, "Breega Africa Seed I," with the...

Read more
Mon Petit Placement France

Lyon’s fintech firm Mon Petit Placement bags €6.5M

10/30/2023
Creative Force Denmark

Denmark’s Creative Force bags $8.9M

10/30/2023
Ankra Sweden

Sweden-based Ankra raises €1.1M

10/30/2023
Nortech AI Norway

Norwegian-Portuguese AI innovator Nortech AI gets €2.5M

10/30/2023
Next Post
zomato

Zomato to Invest $400M more in Quick Commerce; Will Set up a Lending Business for Restaurants

Atommerce

Atommerce wants to scale its mental health platform with $16.7M funding

Deepdub

Deepdub raises $20M for AI-powered dubbing that uses actors’ original voices

No Result
View All Result

The Big 5

Blockchain

The Role of Blockchain in Enhancing Africa’s Financial Systems and Security

by Tech Gist Africa
06/30/2025
0

...

Artificial Intelligence

How Artificial Intelligence is Transforming Industries Across Africa

by Tech Gist Africa
06/23/2025
0

...

Africa startups

Kenyan Startups Invited to Apply for €100,000 develoPPP Ventures Grant

by Tech Gist Africa
06/15/2025
0

...

Neuralink Elon Musk

Neuralink Secures $650 Million in Series E Funding to Advance Brain Implant Technology

by Tech Gist Africa
06/15/2025
0

...

Telegram Grok

Telegram Scores $300 Million xAI Deal to Integrate Grok Across One Billion Users

by Tech Gist Africa
06/15/2025
0

...

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

Copyright © 2020 Techgistafrica. All Rights Reserved

No Result
View All Result
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact

Copyright © 2019 TECHGISTAFRICA. All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.