New Investment: Kennek, Connected Lending Infrastructure Funding For The Economy

By Francesca Segato, Anna Kazmierczak, & Bob Rode Published on February 24, 2023

We were impressed by the Kennek team and their substantial experience in the space. The founding team is very senior, having deep knowledge of the lending sector and extensive experience in banking. Both co-founders built ventures in the past, among neobank and lending businesses. The company is backed by domain experts with an extensive network in the credit industry. Their vision to address the mid-size lending market & solve the struggle lenders face right now was very comprehensive and addressed every side of the value chain: lender, originator, and borrower.

Kennek aims to revolutionize the lending industry, empowering lenders to operate and scale efficiently with best-in-class technology. By providing a comprehensive end-to-end operating system, Kennek helps lenders manage everything from loan origination and servicing to portfolio management and investor reporting.

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With its comprehensive end-to-end system, Kennek empowers lenders and helps them access the funding they need to grow from traditional institutional investors and DeFi investors, bridging the $2.9trn funding gap for small and medium-sized enterprises (SMEs) globally.

With Kennek, anyone can launch a lender quickly and cost-efficiently, including corporations launching embedded credit or managing receivables financing. Ultimately, Kennek's goal is to help deploy capital into the real economy and help both lenders & businesses thrive.

Meet the team behind Kennek

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The founding team consists of very senior founders, with relevant experience in the banking and lending space and building the venture from scratch. Founders and their team have complementary experience, needed to succeed in building & scaling Kennek.

Thibault, Xavier, and Edmund are very senior founders, having deep knowledge of the lending sector and extensive experience in banking. Co-founders built ventures in the past (neobank & lending business) which are still active today. They have very complimentary experience, both from the ventures & a corporate world, and are very well grounded in the industry.

Why we're excited to invest

Most lenders operate inefficiently and lack access to institutional funding. Institutional funding requires top-tier operations and systems. The back and middle office is a key component of lenders' operations. It is operationally complex and still largely done manually through Excel spreadsheets. While solutions exist, they are hard and expensive to integrate.

Kennek solves this and we are excited about this unique offering that they bring to the market. Both prospect clients and partners of Kennek we talked to were extremely excited about the possibilities it provides to their business & efficiencies they can achieve while using Kennek. The traction achieved by Kennek so far is also very impressive. In its first year of trading, Kennek has already hired 20 fulltime staff, and launched a plug-and-play operating system that caters for a broad variety of lenders and credit products. The company’s UK operation has already secured commercial wins with clients operating the areas of SME loans, R&D credit and commercial real estate.