Full-Time
AI-powered credit decisioning and lending platform
No salary listed
London, UK
Hybrid
Three days on-site per week required.
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Abound offers unsecured personal loans up to £10,000 to underserved UK customers, using income, spending habits, and remaining balance alongside traditional signals to decide lending. Render is an AI-powered credit decisioning platform for lenders that uses real-time bank transaction data to produce more accurate and fair credit assessments. Fintern differentiates itself by combining AI, open banking, and alternative data to expand access to affordable credit and reduce default rates. Its goal is to broaden access to affordable personal finance and improve credit decisions for both borrowers and lenders.
Company Size
51-200
Company Stage
N/A
Total Funding
$2.1B
Headquarters
London, United Kingdom
Founded
2020
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Company Equity
Hybrid Work Options
Paid Vacation
Paid Holidays
Sabbatical Leave
Employee Loan
Gym Membership
Wellness Program
AI-powered credit technology company Abound has entered the mortgage market by acquiring Ahauz, a tech-driven lender specialising in shared equity mortgages. Financial terms were not disclosed. Ahauz will continue operating independently whilst leveraging Abound's capital and technology platform. Abound's AI system analyses customers' Open Banking data with their consent to assess affordability more accurately than traditional credit scores. The acquisition marks Abound's expansion beyond its existing credit technology services into the mortgage sector.
Abound, a fintech startup, raised $14 million in seed funding led by NEAR Foundation, with participation from Circle Ventures and Times Internet. This marks Abound's first external investment since its incubation at Times Internet. The funds will accelerate its mission to create a financial bridge for non-resident Indians in the US and India. Abound has processed over $150 million in remittances and seen 50% month-on-month revenue growth over the past six months.
London fintech Abound has secured £250m financing from Deutsche Bank, boosting its total lending capacity to £1.6 billion. This funding will help scale operations, enhance financial inclusion, and modernize lending. Abound's AI-driven platform, Render, uses Open Banking data to assess borrowers' financial situations, reducing default rates and offering lower rates. CEO Gerald Chappell highlights the global potential of their technology. Abound became profitable in April 2024, three years post-launch.
Recognized as one of the most dynamic and innovative ecosystems globally, the UK is home to a thriving network of startups, scale-ups, and established tech giants. With strong infrastructure, access to venture capital, and a highly skilled workforce, the UK remains a global leader in sectors like fintech, artificial intelligence, and digital health. In 2024, the UK maintained its leading position, raising €17.5 billion (23.6% of total investments) across more than 861 deals. While the country retained its position from the previous year, the total amount raised was approximately 30% lower than in 2023, when UK companies raised €24.7 billion. Nevertheless, the ecosystem faces challenges, such as a shortage of tech talent due to competition with global markets, high operating costs, and uncertainties around post-Brexit regulatory frameworks. Despite these obstacles, the UK’s tech sector remains resilient, continuing to attract significant investment and foster innovation
In 2024, European tech companies secured more than €74.4 billion across over 3,700 deals. When compared to a year before, this figure is higher by approximately 10 percent (€67.6 billion secured in 2023). This indicates a positive shift in investor sentiment or market conditions for European tech. Despite this increase, the 2024 total remains about 30 per cent below the peak of €101.2 billion in 2022.Although many of the largest deals in 2024 focused on debt financing for the construction of gigafactories (e.g., Northvolt, Stegra, ACC), others were directed towards R&D and seizing global growth opportunities.For a more comprehensive review of topics including investments, geographic region performance, industry performance, top M&A and exit activities, and much more, check out Tech.eu’s annual report “European tech 2024: The big picture”.Now let’s have a look at the 24 European tech companies that raised the most in 2024.24. Poolside (France)Amount raised in 2024: $400 millionPoolside.ai is a company focused on developing advanced AI models for software engineering. It offers a customizable AI solution that integrates directly with your codebases and business practices, fine-tuning to create proprietary models that continuously improve developer productivity.The company's foundation models, such as Malibu, and tools like code completion engines, are designed to accelerate software development securely and privately, ideal for regulated industries.In 2024, the company secured $400 million which will be used to accelerate the company's growth, improve its technology and expand its marketing activities.23