Fladgate LLP has advised Fiinu Ltd, a UK-based AI start-up on its £1.7 million seed investment round led by prominent early stage venture capital investor Kindred Capital.
Founded by doctoral-candidate Marko Sjoblom, Fiinu’s vision is to fill a significant funding gap caused in part by regulatory changes in the overdraft market. Fiinu aims to achieve greater financial inclusion, and to help people improve their financial position and their credit score.
Commenting on the transaction, corporate partner Jamie Hamilton said, “We are very proud to support Fiinu in this important chapter of its journey, and excited to see the impact that Fiinu will bring to the short-term credit markets.”
Marko Sjoblom, founder and CEO of Fiinu, said “Jamie and his team have been a true business partner to me and Fiinu. I am grateful for the highly flexible Fladgate team which brought this significant transaction across the finishing line. The new funding will enable us to continue the process with the UK regulators and ultimately support those who need access to short-term unsecured borrowings."
The Fladgate team was led by Jamie Hamilton, who was assisted by associates Ben Milloy and Maddy McAra.
