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Stenn, a digital financing platform for SMEs, has closed a $50 million equity funding round with US investor Centerbridge, at a $900 million valuation.
Founded in 2015, Stenn has provided over $6 billion of financing to SMEs in over 70 countries, with capital provided by a number of global blue-chip banks and institutional fund managers.
The firm’s proprietary technology platform uses big data and tailored algorithms to analyse credit, fraud and compliance risks on behalf of lenders and promises access to capital within 48 hours.
Greg Karpovsky, founder and CEO of Stenn, comments: “Our proprietary platform and data analysis de-risks the process for our banking partners and provides a quick, simple and low-cost solution for SMEs.”
Financial Services
