Digital financing platform Stenn has raised $50m

London-based digital financing platform Stenn has raised $50 million at valuation of $900 million.

The equity funding round was led by US investment firm Centerbridge Partners LP.

Stenn, founded in 2015 by Greg Karpovsky, provides a platform aimed at SMEs which allows them to raise funds from investors.

Stenn claim it has facilitated $6 billion of financing to SMEs in over 70 countries since its inception, including $1 billion in 2022.

“A lack of access to finance is stunting the growth of SMEs around the world that are engaged in international trade,” said Greg Karpovsky, founder and chief executive at Stenn. “At Stenn, our purpose has always been to level the playing field for global SMEs, helping to plug a multi-trillion-dollar financing gap by connecting these businesses with low-cost institutional capital.

“Our proprietary platform and data analysis de-risks the process for our banking partners and provides a quick, simple and low-cost solution for SMEs. We are excited to be partnering with an investor of Centerbridge’s calibre and vision.”

He added: “Their funding will enable our next chapter of growth, allowing us to capitalise on our first-mover advantage whilst continuing to meet surging customer demand as we scale our team and proposition.”

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