Firenze, the Manchester based fintech, has raised £750,000 at a £3.75m valuation in a pre-seed angel round to accelerate its mission to democratise access to Lombard lending.
Launched in January, by co-founders David Newman and Anna Curtis, Firenze provides an embedded finance platform that allows wealth managers to offer loans secured against investments to their clients from as little as £65k. These Lombard loans have typically only been available to clients of private banks who have, as a minimum, £1m of investments. Firenze is helping a broader range of borrowers access this efficient liquidity solution typically reserved for the ultra-wealthy as well as helping wealth managers, investment platforms & financial advisors attract and retain AUM.
Firenze’s oversubscribed pre-seed round is one of the largest pre-seed angel raises to close in the last 18 months, and certainly one of the largest outside London. Notable investors include:
- The scout funds of top tier VC’s including a16z, Atomico, Ada Ventures & Lakestar;
- Leading fintech super-angels and operators such as Amir Nooriala (Oak North), Charlie Delingpole (Comply Advantage) Felix Leuschner (Drover) Keith Grose (Plaid) Michele Attisani (Faceit) (Ricky Knox (Tandem) Seth Johnson (ICAP/NEX) Steve Lemon (Currencycloud);
- Top tier investors such as Andi Kazeroonian (Outward VC) Ara Yeromian (Ontario Teachers Pension Plan) Kaysan Nikkah (Edinvest Family Office) and Neer Nagda, Oliver Blom (both IPGL); and;
- Industry executives including senior figures at Rothschild, Julius Baer, Schroders and Cazenove.
Anna Curtis, co-founder of Firenze said “We’re humbled by the calibre of investors who have chosen to back us at this pivotal stage of the journey. It’s a testament to the clear need for our solution in the market, with many of our investors intimately familiar with the value of opening up Lombard lending. We look forward to using this raise to propel our vision forward.”
The fundraise allows Firenze to continue its team growth and start onboarding the first wealth managers and platforms.
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If you want to find out more about Lombard Lending and it’s benefits you can read more here.