Lenvi’s market-leading Standby Servicing team are pleased to have stood behind Abound, a pioneering credit technology company, in support of three recent facilities totalling £1.3bn. This partnership extends across all debt facilities within Abound’s business, strengthening the ongoing relationship between Lenvi and the lender.
Abound has distinguished itself as a forward-thinking, inclusive lender, becoming the first to fully utilise Open Banking across originations, collections, and servicing. Their proprietary AI technology platform, Render, revolutionises credit decision-making by providing a constant view of customers' financial positions, leading to more accurate and personalised lending decisions. This innovative approach has resulted in 75% fewer defaults compared to industry standards, enabling Abound to offer lower interest rates and enhance financial inclusion.
These recent facilities are part of a broader financing strategy to support Abound's expansion into prime lending in the UK and the global rollout of their AI credit technology platform, Render.
Lenvi's collaboration with Abound dates to their first debt raise 4 years ago, and our proactive relationship management and reputation in the market have been instrumental in supporting Abound's growth. Lenvi Standby Servicing’s relationship with Abound goes beyond the traditional role of a back-up servicer. Benefitting from our unique position in the market and established relationships with the leading investors in the UK and internationally, Lenvi’s Standby Servicing team were able to support in the sourcing of funds and facilitating introductions to investors. Throughout this period, Lenvi has witnessed and contributed to Abound's remarkable growth and innovation in the UK consumer lending market.
Abound are a fantastic organisation. We’ve been working with them since their first debt raise and have seen them grow from a small business to an established leader in the fintech space within a few short years. The co-founders are experts in their field, and it’s exciting to witness their remarkable growth. We’re thrilled to continue supporting their journey, knowing that there’s still so much potential ahead.
Owain Chambers, Director of Capital Markets Sales - Lenvi
Lenvi's reputation in the market and their proactive approach have been invaluable to us. They are more than just a backup servicer; they have consistently supported us with their extensive network and Classification Confidential deep industry expertise. Their commitment to our success and their ability to adapt and assist us proactively have made them an essential partner in our journey.
Gerald Chappell, CEO and Co-founder - Abound and Render
As Abound continues to grow and expand, Lenvi remains a dedicated partner, supporting their mission to revolutionise credit decisioning, and drive financial inclusion.
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