Wiserfunding, a London-based provider of credit risk assessment for SME lenders, announced it has secured £3 million investment from growth capital investor BGF.

The deal was led by James Austin and Rowan Bird at BGF. As part of the deal, James Austin will join Wiserfunding as director.

This investment will support Wiserfunding in accelerating international expansion and strengthening its global position.

Wiserfunding said that it currently serves more than 60 customers across three continents, a mix of bank and non-bank lenders, insurance firms, payment providers and asset managers.

Combined, Wiserfunding’s clients have reportedly lent almost almost £3 billion to SMEs in the last year.

Gabriele Sabato, CEO, Wiserfunding said,

“This investment, alongside BGF’s expertise, will provide strategic support as we expand globally and will enable us to support the recovery of SMEs crying out for on-demand finance.

 

With revenues having grown eight-fold in the space of just two years, we are closer than ever to achieving our mission to become the market standard for SME risk assessment.”

James Austin, Investment Director at BGF said,

“As a result of BGF’s funding, we will be able to fast track the ongoing commercial roll-out and continue with the development plan which will keep adding depth and breadth to the product.

 

This investment also represents a great addition into BGF’s growing fintech portfolio, which we hope to expand significantly in the near future.”