Dublin-based fintech startup CreditLogic, which simplifies the mortgage application procedure, has secured €3.5 million to expand its operations into Europe further. The investment came from Riverside Acceleration and tech business angels.
- Established in 2018 by Eddie Dillon and Gavin Bennett, CreditLogic develops a SaaS platform that aids banks in lowering the costs associated with acquiring and onboarding customers, as well as issuing new mortgages. The platform helps customers reduce processing times by 90% and cuts operational costs for complex processes by 50%.
- According to CreditLogic, it is trusted by international banking and government clients and serves all banks in Ireland, key public sector entities, and over 60 other regulated businesses.
Details of the deal
- The investment was led by Riverside Acceleration Capital, a venture capital firm specializing in helping B2B software startups scale and grow, and is part of the global private investment firm The Riverside Company. Additionally, tech business angels also joined the round.
- Recently, the startup opened a new office in Spain and plans to use the funds to expand its workforce, adding 15 full-time roles in AI, data science, engineering, and sales.
