# Fintern

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/fintern

- Industry: Financial Services
- Headquarters: London, UK
- Website: www.fintern.ai
- Total disclosed funding: $6.5M
- Latest round: Series A (Jan 4, 2022)
- Investors on record: 2

## About

Fintern Ltd, now known as Abound, specializes in providing innovative financial solutions through AI-driven consumer lending, focusing on underserved markets in the UK.Fintern Ltd is a UK-based company headquartered in London that operates as a consumer lending platform targeting individuals overlooked by traditional credit scoring methods. Founded by Gerald Chappell and Michelle He, the company has pivoted to focus on its main product, Abound, which utilizes AI technology to enhance credit assessment. The CEO, Gerald Chappell, has a history in financial technology, contributing to the company's strategic direction. Fintern has recently secured GBP 4.8 mn in SERIES A funding led by Salica Investments, bringing the total amount raised to GBP 4.8 mn and giving the company a current valuation of GBP 33.814 mn.Fintern, now operating as Abound, offers financial solutions through its two principal products: Abound and Render. Abound provides unsecured personal loans up to GBP 10,000, specifically designed for underserved customers. The distinctive feature of Abound is its integration with Render, an AI-powered credit decisioning platform that assesses borrowers' creditworthiness by analyzing real-time bank transaction data, focusing on their financial behavior rather than conventional credit scores. The services mainly cater to consumers in the United Kingdom, aiming to provide affordable credit alternatives.Fintern's revenue model is based on lending services through Abound, where income is generated from interest on personal loans issued to consumers. The company's platform analyzes customer financial data leveraging Render technology to determine loan eligibility and amounts. This direct-to-consumer approach enables Fintern to engage effectively with individuals seeking financial assistance, offering competitive interest rates which support its revenue generation strategy while focusing on responsible lending practices.In January 2022, Fintern Ltd raised GBP 4.8 mn in SERIES A funding to enhance its market presence in the UK and expand access to affordable credit. The company plans to utilize these funds to bolster its team, launch its first B2B partnerships, and explore opportunities for geographical expansion. Future initiatives include designing new financial products aimed at further serving consumers' diverse needs.

## Funding rounds

- Series A, Jan 4, 2022, $6.5M — Salica Investments, Varengold Bank

## Investors

- Salica Investments (https://capitalatlas.ai/funds/salica-investments) — Series A
- Varengold Bank — Series A