Qlarifi, a fintech start-up building a BNPL consumer credit database, has raised £1.4 million in pre-Seed funding.
The round was backed by a combination of HoneyComb Asset Management, Carthona Capital and a selection of angel investors including Australian rugby legend John Eales.
Qlarifi’s platform aggregates BNPL consumer credit data, creating a complete picture of customers' borrowing and repayment history across different providers.
The firm says there are nearly 415,000 daily BNPL applications in the UK, dwarfing credit cards, the second most prominent form of lending, which sits at just 68,000 per day.
Co-founder Loic Berthou, comments: “We saw an opportunity to enable lenders to make better informed underwriting decisions by utilising the rich and growing dataset of transactions, and to help consumers build a positive credit history through the responsible use of BNPL. To us it was clear - we’re glad that our investors agreed.”