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Floryn raises EUR 65 million in financing from NatWest

Wednesday 26 October 2022 15:53 CET | News

Netherlands-based fintech company Floryn has raised a total of EUR 65 million in financing from NatWest

 

Since its inception, Floryn has received more than 60,000 credit applications, which are assessed using smart technology, such as data analysis and machine learning. The fintech company uses artificial intelligence to look at bank statements and other data points, among other things, with which faster risk analyses can be made. Floryn has a PSD2 license from De Nederlandse Bank (DNB).

Accordion to a Floryn representative, Floryn has provided more than EUR 650 million in financing since its launch and this expansion will allow them to help larger companies at more competitive rates, up to a credit limit of EUR 3 million. Floryn will use the financing to further strengthen its position as an alternative bank allowing entrepreneurs from small and medium-sized companies to receive business loans of up to EUR 3 million. 


NatWest as Floryn’s financier

The new senior debt financing has been made available by UK-based bank NatWest. A NatWest representative states that the bank is actively seeking opportunities to support fintech companies that make a contribution to the sustainable growth of the economy.


Netherlands-based fintech company Floryn has raised a total of EUR 65 million in financing from NatWest.

The fintechs business credit offer

Floryn’s main offer is a business credit, meaning an amount of money provided by the fintech which users can withdraw and repay flexibly. With the online app customers decide how much they take and when. Interest is only paid on the amount withdrawn and users pay off a part every month, which they can always withdraw.

Users are eligible for a credit when their company is registered with the Chamber of Commerce and has been in existence for at least 6 months. It is possible to complete a QuickScan without obligation to see what the financing options are for each user.

Floryn’s new app

Floryn has recently introduced its app in order to offer customers a more accessible way to log in to their accounts. The Floryn app makes it possible for users to withdraw money from your Floryn financing, however, to use the app customers must already receive financing from Floryn. This app also shows a financial overview with your available balance and the latest transactions.

Floryn collaborates with business management platform FiveX

Recently, Floryn has also partnered with the business management platform FiveX to help ecommerce entrepreneurs grow by bundling the technologies of both companies. FiveX provides insights through business intelligence for all sales channels to online retailers aiming to grow. This allows ecommerce entrepreneurs to easily view all KPIs and profit at the product level to make decisions on their assortment.


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Keywords: investment, product upgrade, expansion, banking, financial services
Categories: Banking & Fintech
Companies: Floryn, NatWest
Countries: Netherlands
This article is part of category

Banking & Fintech

Floryn

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NatWest

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