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Miguel Cordon · · 1 min readAI fintech firm TurnKey Lender secures $6.1m in DEG-led round
TurnKey Lender, a startup that uses artificial intelligence to power lending automation and risk mitigation, said it has raised an undisclosed amount of funding in its latest round. According to data from VentureCap Insights, the company raised US$6.1 million from the round.
More funding details
- Lead investor: European investor DEG
- Returning investors: Seeds Capital, Vertex Ventures, OSK Ventures International, and Majuven
- Stage: Series A2
More company updates
- TurnKey Lender claims it tripled its annual recurring revenue year over year in 2020. According to VentureCap Insights data, its revenue for the previous year (FYE 2019) stood at US$2.57 million.
- It plans to use the new funds to scale the global adoption of its tech by expanding its research and development and business development facilities as well as strengthening its market position.
- The company said its software is used by lenders across over 50 countries to help make accurate credit decisions at every stage of the loan life cycle.
For more coverage of the company, head here. You can also click on the link below to view key details about the company, as well as its funding history.
Update (April 23, 2021 11:10am SGT): The article was updated to include the funding data from VentureCap Insights.
Editing by Collin Furtado and September Grace Mahino
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