Noggin HQ

Newcastle-based fintech Noggin HQ has successfully closed an oversubscribed seed funding round, raising £2.3 million to accelerate the adoption of its innovative alternative credit scoring technology for UK lenders.

Summary of transaction details:

• Value: £2.3 million
• Sector: Fintech
• Advisor: Not mentioned
• Key Entities: Noggin HQ (Target), Blackfinch Ventures (Lead Investor), Oxford Capital, Bethnal Green Ventures, Alastair Douglas (Participating Investors)
• Location: Newcastle, UK

Note: This investment will enable Noggin HQ to scale its permissioned banking transaction data services, allowing FCA-authorised lenders to identify and serve creditworthy customers who are often overlooked by traditional credit referencing systems, thereby addressing an evolving market need for more nuanced credit checks.