Toronto’s Uplinq has secured a $1.25 million investment from ATX Venture Partners for its global credit assessment and scoring platform for SMB lenders.
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 brings the total amount raised so far to $4.75 million.
As the first global credit & scoring assessment platform for small business lenders, Uplinq is on a mission to help small business owners gain access to fair and ethical credit, while enhancing SMB lending practices for all lenders globally. Its technology has served as a foundation for more than $1.4 trillion in underwritten loans.
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.
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.”