A Manchester-based FinTech company specializing in Lombard lending has raised €6.8 million to double its workforce. The funds will help Firenze meet rising demand from borrowers seeking secured loans against assets like property and investments.
The funding round was led by AlbionVC, with additional backing from existing investors including Outward VC and Form Ventures. All current investors participated in the oversubscribed round, signaling strong confidence in the company’s growth potential.
Firenze operates in the wealth lending sector, offering loans to individuals with high-net-worth portfolios. The startup’s model allows borrowers to access liquidity without selling assets, a service that has gained traction as economic uncertainty persists. The company reported a steady increase in loan applications over the past year.
With the new capital, Firenze plans to hire more staff to handle the growing volume of requests. The expansion comes as traditional banks tighten lending criteria, creating space for alternative lenders like Firenze to fill the gap. The company has not disclosed specific hiring targets but confirmed a significant increase in team size.
This round follows a period of rapid growth for Firenze, which has seen its loan book expand alongside its customer base. The company’s leadership has emphasized the need to scale operations responsibly while maintaining risk controls in a competitive market.
Source: eu-startups.com