Manchester-based FinTech startup Crediflow AI has raised €1.8 million (£1.5 million) in funding. The company aims to reduce manual work and make the commercial loan application and approval process faster and easier through AI technology.
The funding round was led by NPIF II – PXN Equity Finance, which is managed by PXN Ventures under the Northern Powerhouse Investment Fund II (NPIF II). The £660 million fund supports businesses across the North of England by providing loans ranging from £25,000 to £2 million and equity investments of up to £5 million. Early-stage investment firm Haatch and several angel investors also participated in the round.
Kenfack, CEO and founder of Crediflow AI, said, “Growing a loan book takes more than finding borrowers and having capital available. You need the capacity to assess those businesses, get decisions through approval and stay on top of risk once the money is out the door. I’ve spent much of my career doing that work.”
“When every transaction requires hours of manual preparation, it affects how much business a lender can take on and which deals are worth pursuing. We built Crediflow to bring that workload down and give credit teams more time to understand the borrower and structure the financing,” he added.
Crediflow AI was founded in 2024 by Drey Kenfack, who has more than 10 years of experience in commercial lending and private credit. Before starting the company, he held senior credit roles at Ford Credit Bank, DF Capital Bank and Advance Global Capital.
The company has developed a platform that brings together financial information that credit teams usually collect manually. This includes financial statements, bank transactions and borrower documents. The platform organises this information and prepares it for lenders to review and make lending decisions.
Its main product, FlowSpread, automates the process of reviewing and organising financial information. It extracts details such as income, assets, liabilities and cash flow directly from PDFs, tax returns and bank statements. This reduces the need for manual data entry and helps credit teams save time.
“Businesses of all sizes and across all sectors often rely on commercial finance for a multitude of reasons, but the processes involved in granting this finance are often largely manual, making the process inefficient and slowing down lending decisions. By automating this area of the sector, Drey and the Crediflow AI team are not just supporting lenders but also removing barriers for companies that need funding to grow,” said Joe Ball, senior investment associate at PXN Ventures.
The company will use the new funding to improve its platform, hire more people for its engineering and product teams, and bring more banks and specialist lenders on board. It also plans to automate more steps in the loan process, from the initial application to ongoing loan monitoring, while allowing each lender to follow its own credit rules.
