Uplinq Secures $3.5 Million In Pre-Seed Financing Round

Uplinq Financial technologies(Uplinq), which was founded by prominent venture capitalists, has raised USD $3.5 Million in pre-seed financing. N49P Surface Ventures, alongside a veritable ‘who’s who list of leading individual Fintech investors. The investment will be used by the business to continue its commitment to help banks and lenders provide financial inclusion for small business customers around the world.

Alongside N49P and Surface Ventures, Uplinq’s pre-seed funding round also includes participation from MoVi Partners, Impulsum Ventures, Magic Fund, Assure Syndicates, and the DVC Syndicate. Several prominent Fintech executives also participated in the raise. These included the ex-President of Experian Consumer Services and co-founder of SoFi, the former Treasurer and CIO at JPMorgan Chase, the former Head of Risk at Scotiabank and the former CTO of FIS.

Uplinq’s value proposition is built on the back of its ground-breaking technology, which enables small-to-medium-sized business (SMB) lenders to use billions of unique and validated data signals that go beyond traditional credit indicators, to help make the most accurate decisions possible. The company’s innovative technology has powered over USD $1.4 Trillion in underwritten loans since its inception.

Uplinq began operations in 2022. This was after a long planning period. The company’s founder and CEO, Ron Benegbi, is a serial entrepreneur now working on his fifth startup. Ron was previously the President and co-founder of Railz.ai.

Similarly, Uplinq’s co-founder, Patrick Reily, is a 30-year financial services veteran who has held senior positions with some of the world’s largest financial institutions. Patrick also previously managed Verde International, a business he started, and led the North American product development for Equifax.

Talking about his business journey Ron Benegbi commented: “As an immigrant to Canada in the 1970s, I watched my parents struggle to make a living as small business owners. We were very fortunate that one bank manager took a ‘flyer’ on my dad when he applied for a loan, even though he made it clear that the application did not meet the bank’s lending criteria. Most small business owners are not nearly as fortunate as this, which is why I started Uplinq.”

Ron continued: “Now, it’s great to have so many amazing people who want to be part of our journey. This raise has allowed us to connect with people who share our passion for helping others. We also have the opportunity to meet people who are compassionate and willing to help others. Together, we all share a collective vision of making an impact on the lives of millions of families worldwide.”

Patrick Reily, cofounder of Uplinq, commented: “SMBs create jobs and are at the bedrock of intellectual property creation around the world. They are the engine of the global economy and borrowers yet they remain the least served segment. Uplinq can make this a reality. That’s why I am humbled and honoured to now partner with so many brilliant and purposeful people who share our vision.”

The pre-seed funding round will be deployed immediately to help scale Uplinq’s operations across the globe. Uplinq will also use the funding to refine its solution. This update will enable Uplinq to provide more accurate and predictive insights in the credit-decisioning process. It will empower lenders to understand small business’ financial performance like never before.

Talking about the funding round Alex Norman, N49P’s Managing Partner, commented: “We are excited to back Uplinq, and Ron once again. Ron is able see the future of finance, and can deliver on it. We believe Uplinq has the potential to transform lending practices towards SMBs across the globe.”

Surface Ventures Co-Managing Partner Dimitri Boguslavsky commented: “Ron came to us with a bold vision on how he wanted to transform the global SMB credit lending process. We were instantly impressed by his innovative approach to problem-solving, and his willingness to deal with some of the core issues in the market. Few businesses have the potential to change the world like Uplinq, and with Ron and Pat steering the ship, Uplinq is well-positioned to revolutionize the world of SMB lending.”

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