Deutsche Bank has committed £250 million to UK fintech company Abound, boosting its lending capacity to £1.6 billion and positioning it for global expansion.

Information on the Target

Abound is a UK-based fintech company that specializes in AI-driven lending solutions. The firm has recently secured £250 million in financing from Deutsche Bank, which will enhance its total lending capacity to £1.6 billion. Abound distinguishes itself by utilizing advanced credit technology to evaluate borrowers through real-time financial data obtained via Open Banking. This innovative approach allows the company to provide loans that are uniquely tailored to the financial situations of individual borrowers.

Incorporating AI-driven cash flow underwriting through its proprietary platform, Render, Abound is able to minimize default rates and offer more competitive loan rates. This modern methodology stands in stark contrast to traditional lending practices that depend on outdated credit scores and generic statistical averages. Since its launch in 2024, Abound achieved profitability just three years later, underscoring the scalability and effectiveness of its operational technology. The company currently offers loans ranging from £1,000 to £20,000, with annual percentage rates (APRs) between 8.0% and 29.8% and repayment terms of up to eight years.

Industry Overview in the UK

The UK fintech sector has experienced significant growth in recent years, driven by advancements in technology and changing consumer behaviors. With nearly 20 million people adopting Open Banking technologies, the lan