Dutch fintech Floryn has raised a total of €65m in funding from NatWest.

Dutch fintech Floryn has raised a total of €65m in funding from NatWest.

Since its inception, Floryn has received over 60,000 credit applications, which are assessed using smart technologies, such as data analytics and machine learning. The fintech uses artificial intelligence to examine bank statements and other data points, among others, with which faster risk analyzes can be carried out. Floryn has a PSD2 license from De Nederlandse Bank (DNB).

Accordion to a Floryn representative, Floryn has provided over €650 million in financing since launch and this expansion will allow them to help larger businesses at more competitive rates, up to a €3 million credit limit. euros. Floryn will use this funding to further strengthen its position as an alternative bank enabling small and medium-sized entrepreneurs to receive commercial loans of up to 3 million euros.

NatWest as Floryn’s financier

The new senior debt funding was made available by UK bank NatWest. A NatWest representative said the bank actively seeks opportunities to support fintech companies that contribute to the sustainable growth of the economy.

The credit offer to fintech companies

Floryn’s core offering is trade credit, which is an amount of money provided by the fintech that users can flexibly withdraw and repay. With the online application, customers decide how much they take and when. Interest is only paid on the amount withdrawn and users repay a portion each month, which they can still withdraw.

Users are eligible for credit when their business is registered with the Chamber of Commerce and has been in existence for at least 6 months. It is possible to complete a no obligation QuickScan to see what the financing options are for each user.

Floryn’s new app

Floryn recently launched its app to provide customers with a more accessible way to log into their accounts. The Floryn app allows users to withdraw money from your Floryn funding, however, to use the app, customers must already be receiving funding from Floryn. This app also displays a financial overview with your available balance and latest transactions.

Floryn collaborates with business management platform FiveX

Recently, Floryn also partnered with business management platform FiveX to help e-commerce entrepreneurs grow by bringing together technologies from both companies. FiveX provides business intelligence insights for all sales channels to online retailers looking to grow. This allows e-commerce entrepreneurs to easily view all KPIs and take advantage at the product level to make decisions on their assortment.

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