Lenkie, a UK-based FinTech focused on cashflow management, has raised £49m in Series A funding to drive its mission of improving access to capital for small and medium-sized enterprises (SMEs).
The round consists of £4m in equity and a £45m debt facility, led by a large US private credit fund specialising in supporting international lenders.
Lenkie claims that traditional banks have pulled back from small business lending, contributing to an estimated £22bn funding gap. This withdrawal has created a growing need for alternative financing solutions to help SMEs secure the capital they need to operate and grow.
Lenkie offers payables financing — a model where the company pays suppliers directly on behalf of SMEs at the start of a transaction. This approach allows businesses to obtain the stock, materials, and services they need upfront without tying up their own cash.
Unlike conventional lending processes that rely on slow and outdated credit assessments, Lenkie leverages proprietary underwriting technology and real-time performance data to provide faster approvals. This data-driven approach helps remove bottlenecks and ensures SMEs can access funding precisely when they need it.
Since its founding in 2021 by Sanjeev Jeyakumar and Nnaemeka Obodoekwe, Lenkie has already facilitated over £70m in funding to underserved SMEs. Payments have been made to more than 2,000 suppliers across 40 countries.
Lenkie CEO and co-founder Sanjeev Jeyakumar said, “At its core, all lending is built on a foundation of trust. 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.”
The idea behind Lenkie was shaped by Jeyakumar’s own career, where he saw first-hand how real-time data could improve financing decisions. As a former Citigroup credit trader, he structured over £2bn in lending across emerging markets. Later, while building a venture-backed B2B marketplace, he saw how thousands of small business owners struggled with access to capital.
Jeyakumar said, “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 realise their ambitions.”
Looking ahead, Lenkie plans to use the fresh capital to enhance its data-driven underwriting models, forge partnerships with leading platforms, and explore expansion into new markets. By removing traditional barriers to financing, the company aims to support the next generation of UK entrepreneurs and foster economic growth for SMEs across the country.
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