Abound, a London-based credit technology company, has secured a new round of debt and equity funding, which if fully utilized, could amount to £800 million in aggregate. This would bring its total funding to £1.3 billion. The company, which uses AI technology called Render to assess customers’ financial situations, has issued over £300 million in loans, and aims to double its team size from 65 to 130 people this year. With the new funding, Abound plans to expand its consumer lending into the prime market in the UK, and globally roll-out Render globally.

UK Fintech Abound Secures up to £800M to Expand Access to Fair Credit