Fintech insurance startup Nimbla raises £5.1m
by Startacus Admin
London-based startup Nimbla secures investment to support scaling of its innovative invoice insurance business
.jpeg)
It’s a good start to the month for London-based fintech startup Nimbla with the announcement of a £5.1m funding round led by Silicon Valley venture fund Fin VC with participation from Barclays Bank.
Founded in 2016, the Nimbla platform enables businesses to trade with a peace of mind using invoice insurance with quotes provided within seconds. To date, Nimbla has processed over 67m invoices worth £2.5bn and despite the recent economic uncertainty caused by the pandemic and supply chain concerns, it has continued to write new business. This latest investment will enable the company to further scale its operations.
Flemming Bengtsen, CEO at Nimbla commented: “We have been growing steadily over the past few years, ramping up our technology and team to better understand businesses, the nature of B2B debt and to make faster decisions to serve our growing customer base. 2020 was a seminal year for Nimbla, at a time of global crisis, we were there for businesses enabling them to trade with a peace of mind and giving them confidence to carry on. This funding round will enable us to expand our platform, grow the team as we enable a confident and trusted trading environment for businesses across the UK and beyond”.
Nimbla has also been working directly with businesses and brokers to provide invoice insurance cover and more recently has launched a new API for Banks, fintech lenders and B2B platforms to enable more business to access the service.
Flemming added: “We have built a powerful and robust credit risk model, automated large parts of the process and have now launched a new API to enable others to embed seamless credit risk solutions into their platforms.”
With UK company debt levels hitting £6.6tn this year and with many UK businesses carrying ‘toxic debt’ that may never be repaid, there is huge potential for Nimbla to help provide companies with a peace of mind and insure their invoices against insolvencies.
Subscribe to our newsletter
If you would like to receive our startup themed newsletter, full of the latest startup opportunities, events, news, stories, tips and advice, then sign up here.
Moneybox smashes its investment target with over 15,000 people investing £6.25million in 72 hours in its Crowdcube campaign.
Applications from startups with positive social impact at their core sought by for Crowdcube and Virgin StartUp for Collective Impact, their investment-readiness accelerator.
Business owners are currently facing similar challenges in all sectors. These basic tips aim to help address those issues.
Kickstart Innovation, one of Europe’s leading innovation platforms, has announced applications are now open for the 2022 program.
The lowdown on Kuberno and its innovative tech solution to help companies navigate through governance and compliance requirements.
Virtually Visiting is an online platform enabling users to experience their dream destination from the comfort of their own home via immersive 360 video tours.
Next gen mobility beyond the big cities - RideTandem is a startup aiming to turn local transport providers into smart shuttles for work, education and more.
.png)
If you like haggling, you'll like this - London-based startup Nibble has created an AI-powered eCommerce chatbot to enable customers to negotiate a personalised price.
A tidal wave of resignations and increased interest in angel investment; Oliver Woolley, CEO of Envestors shares some insights on why these trends are connected.
Deeptech startup SLAMcore secures major investment to boost the performance and reach of their pioneering spatial mapping technology.
Published on: 3rd November 2021
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.
- Global Innovation Platform Kickstart Launches New Application Round For Startups 9th May 2022 Kickstart Innovation, one of Europe’s leading innovation platforms, has announced applications are now open for the 2022 program.
- SLAMcore Raises $16 Million To Deliver Low-Cost, Spatial Understanding To Real-Life Robots 3rd May 2022 Deeptech startup SLAMcore secures major investment to boost the performance and reach of their pioneering spatial mapping technology.
- Ulster Bank Brings Pitching Competition to International Disability Summit 3rd May 2022 Ulster Bank seeking entrepreneurs to enter the elevator pitch competition at the Harkin International Disability Employment Summit.
- Oneday secures major investment to support aspiring entrepreneurs 27th Apr 2022 Oneday, the platform that helps entrepreneurs turn their passion into business secures £2.5M seed funding to accelerate product innovation and scale up growth.
