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CreditLogic raises EUR 3.5 mln to fuel European expansion

Monday 8 July 2024 11:03 CET | News

Ireland-based fintech CreditLogic has secured EUR 3.5 million from Riverside Acceleration Capital (RAC) and tech investors to expand across Europe.

 

CreditLogic plans to use the fresh funds to expand its capacity and grow further across Europe. The company plans to add 15 full-time roles to its teams, in the areas of AI, data science, engineering and sales. It recently opened a new office in Spain and plans to expand its team by 15 as it grows its client base.

CreditLogic has secured EUR 3.5 million from Riverside Acceleration Capital (RAC) and tech investors to expand across Europe.

The mission

Founded in 2018 by former banking executives, the fintech has developed a platform that enables banks to reduce the cost of acquiring and onboarding customers and issuing new mortgages. CreditLogic claims to serve all banks in Ireland, key public sector entities, and more than 60 other regulated businesses.

Company officials stated that their focus is to accelerate digital transformation in the banking sector, giving consumers the efficient, user-friendly digital experiences they demand and restoring the competitive edge of banks. They’re happy to have the support of RAC and their existing investors, who bring a strong track record of success in technology investment.

What has CreditLogic been up to?

From 2018 to 2020, CreditLogic had raised USD 2.4 million. The company also recently opened an office in Spain and hired a former Meta executive to support its growth.

Speaking on their investment, representatives from RAC said they were looking for ‘high-growth B2B software companies led by strong management teams’. They were impressed by the CreditLogic’s team, growth to date, and the validation of the platform with customers of scale. They’re happy to partner with the team and excited about the potential of CreditLogic.


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Keywords: investment, artificial intelligence, digitalisation, fintech, banking
Categories: Banking & Fintech
Companies: CreditLogic, Riverside Acceleration Capital
Countries: Europe
This article is part of category

Banking & Fintech

CreditLogic

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Riverside Acceleration Capital

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