Scayl comes out of stealth with its “fintech for fintech lenders” and €100M funding

Scayl provides fintechs building credit products with access to transparent funding structures. This allows them to fund their loan books flexibly and ten times faster than negotiating directly with banks and credit funds.

Debt financing platform Scayl today announced its emergence from stealth. It has raised €100 million, which it will immediately make available for European fintech lenders.

Founded in 2023 and based out of Stockholm, the company has launched a debt solution backed by a network of banks and €1 billion in lender interest. 

Scayl provides fintechs building credit products with access to transparent funding structures. This allows them to fund their loan books flexibly and ten times faster than negotiating directly with banks and credit funds.

The startup was founded by Medjit Yalmaz (CEO), Patrik Blomdahl (COO), and Jatin Goyal (CTO), a team of ex-VC (Swedbank), ex-Private Credit (Credo Capital Partners), ex-Fintech lender (Anyfin), ex-hedge fund (IPM), and ex-banking (SEB) professionals in response to the challenges fintech lenders faced when raising debt, such as the lack of flexible and cost-efficient debt financing.

Europe’s worsening macroeconomic environment, higher base rates, and rising risk of defaults have created an increasingly challenging environment for fintech lenders to operate in. This has put pressure on lenders’ unit economics, forcing them to find more flexible and cost-efficient funding so that they can continue to take advantage of the large market opportunity left open by incumbent banks.

According to Medjit Yalmaz, CEO and co-founder of Scayl: “There is a €400 billion funding gap in Europe alone, and it will be fintechs, not banks, taking advantage of the opportunity. By supporting these fintechs and helping them fill this gap, we expect to facilitate the growth of many unicorns for years to come, and we’re extremely excited by that.”

Scayl acts as a seamless platform for Fintech lenders. By integrating with banks and other credit institutions, Scayl facilitates loan funding by providing access to financing and enabling secure data exchange for borrower assessment.

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It allows for real-time monitoring of 10,000x more data points and uses AI-enabled risk modelling. It also allows fintechs that build credit products to quickly fund their loan book without needing to conduct lengthy negotiations with banks or other credit institutions.

Scayl already has interest from nearly 100 lenders across Europe, with a total demand of more than €1 billion. The company has also secured a partnership with a northern European bank to start providing funding for Fintech lenders. Scayl will make these funds available to lenders through its platform.

Medjit added: “When I worked as a debt investor, I sent term sheets to fintech lenders requiring warrants corresponding to over 10 per cent of businesses. I saw first-hand the endless hidden fees and 6-12 month timelines it took to negotiate and structure debt before founders got the capital they needed.”

This process was the market standard. In response to lender feedback, Scayl built a platform that provides lenders with debt capital more efficiently, at lower costs, and on founder friendly terms.

“We think of ourselves as a Fintech for Fintech lenders. We exist to allow them to focus on what they do best: providing European SMEs and consumers with innovative financial products.”

Scayl is focused on adding additional banks and rapidly building a broad network of institutions capable of financing loans originated by fintechs in every asset class and across every credit product and jurisdiction in Europe before it expands into other regions.

Source: tech.eu

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