26-03-2025
Firenze secures £2.5M to open up Lombard lending
Firenze, a fast-growing fintech firm, has secured £2.5m ($3.2m) in funding to expand access to Lombard lending, a form of borrowing against investment portfolios, beyond the ultra-wealthy.
The investment was led by Outward VC, which has previously backed Curve, PrimaryBid, and Vauban, with participation from Portfolio Ventures, Form Ventures, and high-profile investors such as Lord Fink, founder of Man Group.
The startup intends to broaden Lombard lending, which has previously been reserved for residents with assets worth more than £1m.
By connecting its embedded finance platform with wealth managers, Firenze allows bulk affluent investors to borrow against their portfolios without transferring assets or changing custody. It intends to lend £1bn over the next three years.
David Newman, CEO of Firenze stated: "We are thrilled to have Outward, Form, Portfolio Ventures and an incredible range of angel investors backing our vision to broaden access to Lombard lending. Market demand has far exceeded our expectations, and this funding enables us to accelerate Firenze's rollout to more wealth managers, support their advisors and drive awareness on the benefits of Lombard lending.
'Having Andi and the Outward team lead this round is a privilege. From the outset, it was clear we shared a vision for building a category defining, venture-scale leader in Lombard lending. Firenze is at the forefront of this market and this investment allows us to move even faster toward that goal.'
Andi Kazeroonian, Principal at Outward VC added: 'Outward has a long-standing thesis around the power of combining technology, networks and innovative structures to open up exclusive financial products to a much larger audience whilst also transforming the user experience. Firenze is the embodiment of this, bringing to market a highly demanded solution that acts as a clear win-win-win for borrowers, wealth managers and funders. David and his talented team have executed at an exceptional velocity to bring this vision to life and we are delighted to support them on their journey to build the next category defining fintech.'
Furthermore, Firenze has already worked with financial managers managing £75bn in assets and offers loans starting at £65,000. Because these loans are secured by liquid investments, they have lower interest rates and speedier approvals than standard unsecured loans.
The funding follows Firenze's recent strategic actions, which include a £160m partnership with Monument Bank and major senior appointments such as Paul Pester (former CEO of Virgin Money and TSB) as chairman.
With fresh investment, the firm is focused on expanding partnerships, enhancing its platform, and scaling operations to achieve its ambitious lending target.
"Firenze secures £2.5M to open up Lombard lending" was originally created and published by Private Banker International, a GlobalData owned brand.
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