Uplinq Financial Technologies this week announced a strategic investment from Cambrian Ventures, a venture capital firm focused on early-stage fintechs.
The $600,000 will power advancement and expansion of what Uplinq describes as “the first global credit assessment and scoring platform for small business lenders.”
“Cambrian is investing in the next generation of fintech entrepreneurs,” said Rex Salisbury, a former Andreessen Horowitz partner and founder of Cambrian.
According to Salisbury, Uplinq founders Pat Reilly and Ron Benegbi “possess the kind of deep domain expertise and entrepreneurial know-how that compels confidence.”
“I can think of no better leaders to enhance lending decisions and expand economic inclusion and access to working capital for small business owners across the world,” the investor added.
Salisbury launched Cambrian Ventures’ inaugural $20 million fintech-focused fund in 2022. So far it has invested in more than 10 companies across angel, pre-seed, and seed stages.
“Cambrian’s support is a testament to Uplinq’s expanded footprint in the fintech ecosystem and our breakthrough technology, which is already transforming how small business lenders evaluate risk and credit,” stated Benegbi, who serves as CEO.
With this investment, Uplinq has raised a total of nearly $6 million, following a $1.25 million investment from ATX Venture Partners and $3.5 million pre-seed funding round, both in 2022.
“As we kick off 2023, we look forward to tapping into his remarkable network of innovators as we continue to expand our global presence, especially in the United States,” noted Benegbi.
In addition to helping expand its global presence, the funding will go toward bolstering Uplinq’s team, which recently saw Daniel Moore added to its advisory board, where he will help guide the fintech startup’s strategic direction.
Uplinq launched its operations at the beginning of 2022 following a long planning cycle. It is Benegbi’s fifth startup. Reily, meanwhile, is a 30-year financial services veteran who has held senior positions with some of the world’s largest financial institutions including Equifax.
The company is one of several fintechs helping Canadians build credit and secure capital.
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