Lenkie secures $62m to fund business supplier payments

By Gloria Methri

Lenkie, a transaction-based cashflow management platform, has announced £49 million ($62 million) in Series A funding. The funding round, which includes £4 million in equity and a £45 million debt facility, was led by a large US private credit fund focused on supporting lenders internationally.

Growing businesses face the challenge of spending money to make it, footing the bill for stock, subcontractor payments and equipment before a product is even sold. Lenkie focuses on payables financing—paying suppliers directly on behalf of SMEs at the beginning of a transaction—ensures businesses can secure the resources they need upfront to finance these growth-related expenses.

While the traditional borrowing experience remains slow, rigid, and reliant on outdated credit assessments (leaving thousands of viable businesses underserved). Lenkie’s cashflow platform gives SMEs access to fast, flexible funding exactly when and how they need it, removing growth bottlenecks and unnecessary friction.

Founded in 2021 by Sanjeev Jeyakumar and Nnaemeka Obodoekwe, Lenkie has already funded over £70 million to underserved SMEs, financing bills to over 2,000 suppliers across 40 countries. Leveraging proprietary underwriting technology and real-time performance data, the company delivers bespoke financing solutions that dramatically enhance speed and financial inclusion, empowering hundreds of businesses with faster approvals and a seamless borrowing experience.

Sanjeev Jeyakumar, CEO and co-founder of Lenkie, 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 is most impactful. By financing specific transactions, we are creating a new model of financial inclusion that aligns with how modern businesses operate and grow”.

With the fresh funding, the company plans to enhance its data-driven underwriting models, expand partnerships with leading platforms, and explore new markets.