Barclays leads Funding Xchange Series B funding round
Barclays lead FXE’s Series B funding round, which is open to a consortium of FXE clients.
This fundraising effort is set to unite strategic investors, enhancing FXE’s capacity to foster wider adoption of its digital tools. These tools are designed to increase transparency, improve customer experiences, and streamline the lending process for banks and lenders.
Funding Xchange specialises in offering white-label software solutions tailored for banks and lenders, alongside developing solutions that unify the SME finance ecosystem. Such innovations aim to enhance transparency and ensure that businesses have access to products meeting their specific requirements.
The products from Funding Xchange have gained traction among 80 leading high street banks, challenger banks, and specialist lenders, marking the company as a pioneer in the commercial lending arena. Its contributions have not gone unnoticed, with Funding Xchange receiving numerous international accolades, including a BCR grant, highlighting its role as a significant innovator.
Ryan Hayward, Head of Strategic Investments for Europe and Asia at Barclays commented: “We have chosen to back FXE as we see the opportunity to transform an industry that has not kept pace with the consumer market in the adoption of digital technologies. The team at FXE brings together the right mix of skills and experience and they have built an impressive technology and insights platform. The strength of the team and their track record as innovators makes us excited about the prospects for the business.”
Katrin Herrling, CEO and Co-Founder of Funding Xchange, commented: “This investment creates a unique opportunity for Funding Xchange to drive the transformation of the wider SME lending ecosystem. We are delighted that Barclays shares our vision and approach to close collaboration focused on rapidly unlocking tangible benefits for businesses and banks.”
Sarah Hollyhead, MD of Funding Xchange, commented: “It has been a pleasure to work with Ryan and the Barclays Principal Investments team on delivering this transformational investment into Funding Xchange. Our client-led Series B is fantastic recognition of the client advocacy our team has built.”
