Cashflow management platform Lenkie has announced £49 million in fresh Series A funding—comprising £4 million in equity and a £45 million debt facility—to boost its payables financing solution for UK SMEs.
Led by a major US private credit fund, the round aims to tackle a reported £22 billion shortfall in UK SME funding as banks continue to retreat from business lending.
Founded in 2021 by Sanjeev Jeyakumar and Nnaemeka Obodoekwe, Lenkie pays suppliers upfront on behalf of growing businesses to cover vital costs such as stock, subcontractor payments, and equipment. By relying on real-time data for instant underwriting, Lenkie offers an alternative to the “slow and rigid” traditional borrowing process. Having already financed over £70 million and paid 2,000 suppliers across 40 countries, the company’s transaction-based approach reduces risk, lowers costs, and aligns with SMEs’ real-time needs.
Jeyakumar, a former Citigroup credit trader, said: “We’re using data and technology to understand the nuances of each business and provide fast, flexible capital. By financing specific transactions, we’re creating a new model of financial inclusion that aligns with how modern businesses operate and grow.”
Amid skyrocketing demand for alternative funding options, Lenkie’s tailored model could prove pivotal. The company plans to use the new capital to refine its data-driven underwriting, scale partnerships with major platforms, and potentially enter new markets. By bridging SMEs’ working capital gaps, Lenkie aims to spur growth among smaller enterprises, which drive 60% of UK employment and 50% of GDP—and remain underserved by traditional lenders.
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Lenkie raises £49m to expand transaction-focused SME financing in the UK