But the technology could bring merits, at least in the lending world.
The London-based startup has just raised 800mn for its lending platform that usesAIto determine loan amounts.
Render then calculates the amount of money customers are able to pay back each month.
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Thestartupis also offering its AI credit platform to banks and lenders across Europe.
One of the UKs fastest-growing fintechs, Abound reached profitability three years after being founded in 2020.
With the fresh capital, the company plans to grow both its B2C and B2B market and expand globally.
The investment brings Abounds total funding to 1.3bn.
One of the themes of this years TNW Conference is Venture: Show Me The Money.
Story byIoanna Lykiardopoulou
Ioanna is a writer at TNW.
With a background in the humanities, she has a soft spot for social impact-enabling technologies.
