London-based Lenkie secures €59M to help SMEs with instant working capital: Know more

London-based Lenkie, a transaction-based cashflow management platform, has secured £49M (approximately €59M) in a Series A funding round led by a large US private credit fund focussed on supporting lenders internationally. 

The funding round includes £4M (approximately €4.8M) in equity and a £45M (approximately €54M) in debt facility.

Lenkie: Unlocking instant working capital

Founded in 2021 by Sanjeev Jeyakumar and Nnaemeka Obodoekwe, Lenkie provides fast, flexible, and transaction-based financing solutions for SMEs.

Lenkie’s journey started when Sanjeev Jeyakumar, a former Citigroup credit trader, saw how real-time data could reduce financing risks in underserved markets while managing over £2B in loans.

While creating a B2B marketplace for small business logistics, he met many entrepreneurs struggling to scale their businesses.

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

By leveraging real-time data and payments technology, Lenkie ensures businesses can access capital precisely when they need it, eliminating the inefficiencies of traditional lending.

This approach helps reduce the risk of misusing funds and is more cost-effective for SMEs, aligning with their growth cycles and immediate needs.

“At the heart of our business is the need to invest in stock, reach new customers, and improve supplier relationships. Lenkie’s credit facility has been critical in enabling us to achieve all three. 

The company offers an outstanding service and the continuous product innovations ensure an excellent user experience. It’s the perfect solution to help us scale” says Ankit Monga, Mongas Kids Wear Limited. 

Since its launch in 2021, the UK company has funded over £60M in SME growth financing and continues to lead innovation with its cashflow management solutions.

Moving forward, the UK company aims to accelerate its mission of transforming SME financing in the UK.

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