Debt financing platform Scayl emerges from stealth with €100m backing
Fintech debt financing platform Scayl has emerged from stealth backed by €100 million that it plans to “immediately make available” for fintech lenders in Europe.
Scayl emerges from stealth backed by €100m
Founded by former venture capitalists Patrik Blomdahl, Jatin Goyal and CEO Medjit Yalmaz in 2023, the Stockholm-based start-up connects lenders with scalable debt financing from banks, claiming to pair this delivery with “transparent funding structures”.
Credit assessments for the financing are achieved through real-time data monitoring and a risk modelling system powered by AI, as the firm looks to streamline the often lengthy process of procuring funding from traditional finance streams.
While still fresh out of the box, Scayl claims to have already received interest from “nearly 100 lenders across Europe with a total demand of more than €1 billion”, in addition to its newfound partnership with “a northern European bank”.
The company says it will now direct its focus on “adding additional banks” while also extending its network to institutions “capable of financing loans originated by fintechs in every asset class, and across every credit product and jurisdiction in Europe”, prior to attempting an expansion into other regions.
“There is a €400 billion funding gap in Europe alone, and it will be fintechs, not banks, taking advantage of the opportunity,” Yalmaz says, citing figures recorded by Allianz in 2019.
“By supporting these fintechs and helping them fill this gap, we expect to facilitate the growth of many unicorns for years to come.”
