UK Startup Raises $62M To Tackle The Small Businesses Lending Gap

Cashflow management platform Lenkie has secured £49 million ($62 million) Series A funding round to transform how UK small businesses access capital. The funding round was led by a large US private credit fund focused on supporting lenders internationally. It also included a £4 million ($5 million) equity and a £45 million ($57 million) debt facility, according to a press release shared with POCIT.

How does Lenkie support SMEs?

Lenkie specializes in payables financing. Instead of waiting weeks or months for payments to process, Lenkie steps in to pau suppliers upfront, helping businesses secure the resources they need to grow.

This funding comes at a pivotal time. Despite small and medium-sized businesses (SMEs) playing a huge role in the UK economy—creating 60% of jobs and contributing 50% of GDP—many struggle to get the funding they need. Right now, there’s an estimated £22 billion ($28 billion) gap between what small businesses need and what traditional lenders provide. Lenkie’s approach is designed to help close that gap.

Who founded Lenkie?

Lenkie was founded by Sanjeev Jeyakumar and Nnaemeka Obodoekwe in 2021. It has funded over £70 million ($89 million) to underserved SMEs and payments to 2,000 suppliers across 40 countries.

Their journey began when Jeyakumar, a former Citigroup credit trader, saw how real-time data could make business financing safer and more accessible in underserved markets. Later, when building a venture-backed B2B marketplace helping small business owners access logistics services, Jeyakumar witnessed thousands of entrepreneurs navigating the challenges of scaling. This experience inspired him to co-found Lenkie.

Lenkie uses underwriting technology and real-time performance data to offer faster, more inclusive financing solutions. By streamlining the approval process, the platform helps hundreds of businesses secure funding more quickly and easily—giving them the support they need to scale.

The future for Lenkie

With this new funding, Lenkie plans to improve its data-driven underwriting models so businesses get faster approvals, expand partnerships with leading platforms, and explore new markets.

“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,” Sanjeev Jeyakumar, CEO and co-founder of Lenkie says.

Image: Lenkie