The investment brings Uplinq’s total raised so far to $4.75 million
TORONTO, ON / ACCESSWIRE / October 20, 2022 / Uplinq Financial Technologies – the first global credit assessment and scoring platform for SME borrowers – today announced a $1.25 million investment from ATX Venture Partners, an early-stage venture capital firm based in Austin, Texas.
This announcement comes after Uplinq raised $3.5 million in a pre-seed funding round in April, which was led by N49P, Surface Ventures and MoVi Partners, and indicates Uplinq’s accelerated growth across key markets such as the US. The funding will help Uplinq scale its workforce, product offering and global presence, with the US market a priority in this growth phase.
“We are thrilled to officially share this news with ATX Venture Partners,” said Ron Benegbi, founder and CEO of Uplinq. “This investment is a vote of confidence in our mission – and our ability – to expand access to working capital for all small businesses globally. We are grateful for ATX’s foresight and confidence that Uplinq can transform the way lenders assess risk and credit. With this additional funding, we are further along our growth path than ever before as we prepare for 2023.”
“Uplinq brings a very complex product to market that helps address the massive SMB lending industry, which has historically been underserved,” said Chris Shonk, partner and co-founder at ATX Venture Partners. “Better risk assessments mean Uplinq helps banks and fintechs issue more loans, and do so more profitably. The Uplinq team has the startup experience, data sources and sophisticated mathematical models to help take SME lending to the next level as a significant value driver.” .”
ATX Venture Partners focuses on leading Seed, Series A and early stage software investments across the United States. The firm invests in disruptive and emerging B2B software, APIs, applications, frontier tech and marketplaces across a range of industries including Supply Chain, FinTech, InsurTech and the Future of Work.
About Uplinq
As the first global credit and scoring platform for small business lenders, Uplinq is a purpose-driven company with a mission to help small business owners access fair and ethical credit while improving SME lending practices for all lenders globally. Uplinq’s ground-breaking technology enables lenders to approve and manage risk on loans they would otherwise have declined based on traditional loan underwriting criteria, while incorporating environmental, market and social data to better understand the specific loan applicant. The technology has served as the basis for more than $1.4 trillion in guaranteed loans. Learn more about Uplinq at uplinq.co and connect with them on LinkedIn or Twitter.
Media contact:
Christina Levin
Caliber Business Advisors
[email protected]
SOURCE: Uplinq
