UK FinTech firm Neyber has raised £115m from investors including Goldman Sachs.
The London-based firm, which enables companies to offer employees access to ‘affordable’ loans, also drew support from existing investors including Deutsche Bank COO Henry Richotte, and Gaël de Boissard, the co-head of Credit Suisse investment bank.
Goldman Sachs poured £100m into the round, which is made up of equity and debt financing. It comes after Neyber closed a £7.5m Series B in April.
“Neyber is interesting to us as the leading provider of this type of product, which is a bit different and has good attributes to lend against,” Nishi Somaiya, partner at Goldman Sachs, told the Financial Times.
It has the added benefit of providing social help, being good for society, and that is something that as an institution we quite like,” she added.
Neyber co-founder and CEO, Martin Ijaha, said this was a “groundbreaking transaction for Neyber and the most significant milestone” in its development to date.
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“This transaction brings Neyber’s award winning proposition further into focus and comes at a time when Neyber is launching with some of the largest employers in the UK.
“This capital investment will allow Neyber to embrace these opportunities and expand the universe of employees that Neyber can serve. This supports our mission of improving the financial wellbeing of even more UK employees,” he added.
The funding is part of a £21m Series C led by Wadhawan Global Capital (WGC) – an India-based financial services group – announced last month.