Fractal Labs wins Deloitte’s first fintech portfolio investment
SME-focused Fractal Labs is the first company to receive fintech portfolio investment from Deloitte, reports Jane Connolly.
The AI-driven, two-sided API platform is designed to streamline the exchange between SMEs and their financial services providers.
The platform aggregates and enhances the data required to make financial risk decisions and aims to improve customer engagement through the use of intelligent targeting. Fractal Labs is based within Deloitte’s London fintech lab.
Nicholas Heller, CEO and co-founder of Fractal, states that the success of SMEs is crucial to economies.
“It is a rarity to work so closely with such an established business, and still be given the freedom to build the products we truly believe will revolutionise the banking experience for small businesses, who are at the core of everything we do at Fractal Labs,” he adds.
“Our ambition is to be a truly global business, and this new investment confirms that we are on the right track to achieve what will be an incredible feat with a partner who has a lot of confidence in both our team and mission.”
Louise Brett, head of fintech at Deloitte, says Fractal Labs is “an exciting young company that is leveraging the UK’s leadership in open banking” and that Deloitte looks forward to supporting Fractal’s global ambition.