Dutch fintech company Floryn has raised €65 million in funding from NatWest.
Dutch fintech company Floryn has raised €65 million in funding 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, among other things, at account statements and other data points with which faster risk analyzes can be made. Floryn has a PSD2 license from De Nederlandse Bank (DNB).
To a Floryn representative, Floryn has provided more than EUR 650 million in funding since 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 funding to further strengthen its position as an alternative bank that allows entrepreneurs from small and medium-sized businesses to receive business loans of up to 3 million euros.
NatWest as Floryn’s financier
Fintech’s business credit offer
Floryn’s main offering is a business credit, which means an amount of money provided by the fintech that users can withdraw and pay back flexibly. With the online app, customers decide how much they take and when. Only interest is paid on the amount withdrawn and users pay a portion each month, which they can always withdraw.
Users are eligible for 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 carry out a QuickScan without obligations to see what financing options there are for each individual user.
Floryn’s new app
Floryn recently introduced its app to offer customers a more accessible way to log into their accounts. The Floryn app enables users to withdraw money from your Floryn funding, but to use the app customers must already receive funding from Floryn. This app also shows a financial overview with the available balance and the most recent transactions.
Floryn collaborates with business management platform FiveX
Recently, Floryn has also partnered with business management platform FiveX to help e-commerce entrepreneurs grow by combining the technologies of both companies. FiveX provides insight through business intelligence for all sales channels to online stores that want to grow. This allows e-commerce entrepreneurs to easily view all product-level KPIs and profits to make decisions about their assortment.
