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Deutsche Bank invests 250 million in fintech firm Abound for AI lending

Deutsche Bank has invested £250M in UK fintech firm Abound, enhancing its lending capacity to £1.6B. Abound utilizes AI-driven cashflow underwriting and Open Banking insights to offer tailored loans, achieving profitability within three years of its 2024 launch. The company provides loans from £1,000 to £20,000 with competitive APRs and aims to expand its technology globally.
Tech.eu
British Pound Sterling Deutsche Bank Money Market PP Abound Energy Inc. GBR Michelle Heyman Gerald Chappell
Finance & Economy, Press Release
13:01 27.03.2025

Abound secures 250 million financing from Deutsche Bank to expand lending capacity

London fintech Abound has secured a £250m financing deal with Deutsche Bank, boosting its total lending capacity to £1.6bn. This funding will enhance its operations and financial inclusion efforts, while its AI-driven cashflow underwriting platform, Render, helps minimize default rates and offer lower consumer loan rates. Co-founders Gerald Chappell and Dr. Michelle He emphasize the potential for global expansion as Open Banking technology gains traction worldwide.
UKTN
British Pound Sterling Citizens, Inc. Deutsche Bank Money Market PP Waterfall Asset Management LLC GBR DEU Michelle Heyman Gerald Chappell Show more
Business & Industry, News Article
10:57 27.03.2025
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