London-based fintech kennek raised $12.5m in a Seed round, led by HV Capital and supported by AlbionVC, DFF (Dutch Founders Fund), FFVC, Plug and Play Europe and Syndicate One. Philipps & Byrne was called in to do the Product and Technology Due Diligence in the context of the deal. Kennek is the vertical software, an end-to-end solution for lenders that allows them to manage the full value chain of lending in one platform instead of using different systems and tools.
Product and Tech Due Diligence: Assessing kennek’s Platform Solution for Non-Bank Lending
Kennek is on a mission to simplify and streamline the non-bank lending sector, which has long grappled with complexity and inefficiency. With their vertical SaaS solution, they want to empower innovations like Open Banking, Open Finance, and Payments. Their platform addresses every aspect of a lender’s operations, spanning from loan underwriting to monitoring, servicing, and even investor reporting. It achieves with APIs to establish a single source of information for lenders, borrowers, and investors.
Philipps & Byrne assessed kennek’s tech stack from a 360 degree view. This means evaluating everything from leadership, product management, and team dynamics to organizational structure, architecture, hosting and infrastructure, software delivery, quality assurance, and considerations related to security and privacy.
Our report provides a set of actionable recommendations that can help kennek in their future growth and in building up their tech and product organization.
Kennek helps lenders operate efficiently and scale easily, providing the best-in-class technology to manage everything from Loan Origination, to Servicing & Monitoring, as well as Portfolio management and Investor Reporting. All without the need to develop anything in-house so lenders can simply focus on their origination channels.
About HV Capital
Since 2000, HV Capital, formerly HV Holtzbrinck Ventures, has backed Internet and technology companies through various generations of funds and is one of the most successful and financially strongest early-stage and growth venture capitalists in Europe. HV’s funds have already invested in around 200 companies, including Zalando, Delivery Hero, FlixBus and SumUp. The total of all HV‘s funds amounts to €1.7 billion. The company supports startups with capital between €500,000 and €50 million. This makes HV Capital one of the few venture capitalists in Europe that can back startups through all growth phases.