Floryn is a Dutch fintech startup operating an online lending marketplace for small and medium-sized enterprises, offering business loans up to €2 million. The platform uses machine learning to perform fast risk assessments based on recent banking transactions and other data points rather than relying on potentially out-of-date financial statements. The company reports a loss percentage below 2 percent and employs about 50 people. Founded in 2016 and based in the Jheronimus Academy of Data Science, Floryn says demand for business loans in Europe has skyrocketed by 98 percent. It was recently accepted into the Dutch BMKB-C loan guarantee scheme and in December secured €60 million in debt financing from NIBC. The latest funding will be used primarily for domestic and international expansion, with some allocated to product development. Floryn (formerly InvoiceFinance) is a Dutch fintech active in online lending for small and medium-sized businesses, using artificial intelligence to analyze bank transactions and hundreds of other data sources for rapid risk assessment. The company processes credit applications using machine learning and reported receiving 4,600 credit applications in the last quarter, which it was able to process almost immediately. Floryn competes with banks on loans up to €2,000,000 and emphasizes customer experience and service. With the new financing, the company plans to help more and larger companies grow, create jobs, and realize their ambitions. Management says it hopes to triple its business with the debt financing. The company positions itself as an alternative lender in the Netherlands, scaling its technology-driven approach to underwriting.

Total raised

$76M

Funding rounds

2

Latest round

Equity

Latest activity

May 2020