By Emily Nicolle on Monday 29 January 2018
The European fintech is seeking £500k to support its growth.
The European fintech is seeking £500k to support its growth.
Investly has launched its fundraising campaign today on European private investment platform Seedrs. The firm is planning to raise at least £500,000 to help finance integrations with banking partners to improve access to working capital for its SME customers.
The fintech, which provides invoice funding to small and medium-sized companies, is looking to take advantage of the recent PSD2 regulations as a “key enabler” of the bank partnerships it believes will drive the business’ growth.
In Spring 2017, Investly was one of 20 start ups selected to take part in innovation charity Nesta’s Open Up Challenge, receiving a £50k grant to conduct research into Open Banking. Investly has since completed preparations for integrating with the UK’s top five banks, including Barclays, HSBC and Lloyds.
Senior fintech operator Calum Cameron was also made chief operating officer of Investly in December, after previously leading one of Europe’s prominent B2B business accelerators, Startup Wise Guys.
According to Investly CEO Siim Maivel, “The PSD2 framework creates an exceptional opportunity and environment for cooperation between fintechs and banks.
“This is a new era for banks, so they’re interested in developing strategic partners in every possible business niche to ensure they maintain their place in the new supply chain. Our aim is to become one of these invaluable partners, which would enable us to significantly increase our business volumes whilst providing their SME customers a flexible product within their bank.”
Investors from earlier rounds include international risk capital fund Speedinvest, which has previously invested in other banking challengers, such as N26, Curve and Loot.
