The investment brings the total Uplinq raised so far to $4.75 million
TORONTO, ON / ACCESSWIRE / October 20, 2022 / Uplinq Financial Technologies - the first global credit assessment and scoring platform for SMB lenders - today announced a $1.25 million investment from ATX Venture Partners , an early-stage venture capital firm based in Austin, Texas.
This announcement comes after Uplinq raised $3.5 million in a pre-seed funding round in April, which was led by N49P, Surface Ventures and MoVi Partners, and signifies Uplinq's accelerated growth across key markets like the United States. The funding will help Uplinq scale its workforce, product offering and global presence, with the US market being a priority in this stage of growth.
"We're thrilled to officially share this news with ATX Venture Partners," said Ron Benegbi, Founder and CEO of Uplinq. "This investment is a vote of confidence in our mission - and our capability - to expand access to working capital for all small businesses globally. We're grateful for ATX's foresight and trust that Uplinq can transform the way that lenders assess risk and credit. With this added funding, we're farther than ever on our growth trajectory as we gear up for 2023."
"Uplinq is bringing a very complex product to market helping address the massive SMB lending industry, which has historically been underserved," said Chris Shonk, partner and co-founder at ATX Venture Partners. "Better risk assessments mean Uplinq is helping banks and fintechs issue more loans, and do so more profitably. The Uplinq team has the startup experience, data sources, and sophisticated mathematical models to help transition SMB lending to the next level as a significant value driver."
ATX Venture Partners focuses on leading Seed, Series A, and early-stage software investments across the US. The firm invests in disruptive and emerging B2B software, APIs, applications, frontier tech, and marketplaces across a number of industries including Supply Chain, FinTech, InsurTech, and Future of Work.
As the first global credit & scoring assessment platform for small business lenders, Uplinq is a purpose driven company with a mission to help small business owners gain access to fair and ethical credit, while enhancing SMB lending practices for all lenders globally. Uplinq's breakthrough technology empowers lenders to approve and manage risks on loans they would have otherwise declined based on traditional loan underwriting criteria, while incorporating environmental, market & community data to better understand the specific loan applicant. Its technology has served as a foundation for more than $1.4 Trillion in underwritten loans. Learn more about Uplinq at uplinq.co and connect with them on LinkedIn or Twitter .
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