Funding Xchange closed an £8 million funding round, led by Downing Ventures and Gresham House Ventures.

Funding Xchange, a London, UK-based FinTech marketplace, announced the closing of an £8 million funding round.

The money was raised from British investors led by Downing Ventures and Gresham House Ventures.

Funding Xchange, founded in 2014 by Katrin Herrling (CEO) and Olivier Lomenie, created the world’s first intelligent decisioning platform that transforms efficiency in SME lending by holding lenders’ underwriting models.

Through its mediation platform, businesses can access personalised funding quotes in less than four minutes and receive funds within 10 minutes - rather than days or weeks as is usually the case. The company has also integrated access to finance into payment solutions and cloud accounting software to offer a seamless experience for small businesses.