Irish fintech CreditLogic raises €2.4m in seed funding
Lending fintech CreditLogic has raised €2.4 million in seed funding to boost its product development.
Founded in 2018, CreditLogic produces software to automate application processing in the lending phase. The firm claims to be able to cut usual processing times in half.
The firm, led by former KBC Bank Ireland director Eddie Dillon and head of development Gavin Bennett, has raised €2.6 million over two rounds.
CreditLogic raised an original €250,000 from Enterprise Ireland back in August 2019.
“At the heart of our platform is task automation and analytics to automate antiquated processes,” Dillon tells the Irish Times.
The new funding is going towards the development of the firm’s new Virtual Assistance solution.
CreditLogic says the new platform enables businesses and consumers to collaborate on loan applications in real-time.
The firm is also planning a European expansion as it said in December last year. A new funding round is in the works for that purpose.