Crediflow AI, a FinTech company based in Manchester dedicated to eliminating manual tasks from commercial loan processing, has successfully raised €1.8 million (£1.5 million) in new funding. The investment round was led by NPIF II – PXN Equity Finance, which is managed by PXN Ventures as part of the Northern Powerhouse Investment Fund II (NPIF II). This fund is a €790 million vehicle designed to support businesses across the North of England with loans ranging from approximately €30,000 to €2.4 million and equity investments up to nearly €6 million. Early-stage venture firm Haatch and a group of angel investors also participated in the round.
The company was founded by Drey Kenfack, who brings over a decade of experience in commercial lending and private credit from senior roles at Ford Credit Bank, DF Capital Bank, and Advance Global Capital. Crediflow AI has developed a platform that consolidates data typically gathered manually by credit teams, such as financial statements, bank transactions, and borrower documents, structuring them for lender approval. Its flagship product, FlowSpread, automates financial spreading by extracting income statements, balance sheet data, and cash flow figures directly from PDFs, tax returns, and bank statements to eliminate manual data entry.
Additionally, the platform features a Bank Statement Analysis tool that categorizes transactions across multiple accounts, reconciles them against submitted financials, and flags risk signals like unusual activity or cash flow volatility. Crediflow AI states that its technology can reduce a process that traditionally takes several days down to between 10 and 30 minutes. The solution is currently utilized by hundreds of credit professionals in the UK, Europe, and the United States, with clients including AddWorking Capital and Iveco Capital.
Joe Ball, senior investment associate at PXN Ventures, noted that while businesses rely heavily on commercial finance, the manual nature of granting these loans often creates inefficiencies. He stated that by automating this sector, Crediflow AI supports lenders while removing barriers for companies seeking funding to grow. Kenfack emphasized that growing a loan book requires more than just capital; it demands the capacity to assess businesses and manage risk efficiently. He explained that the company was built to reduce manual workloads, allowing credit teams more time to understand borrowers and structure financing.
Crediflow AI was previously selected as one of eight companies to receive investment through PXN's PraeSeed programme, a 12-week initiative run in partnership with the British Business Bank and NPIF II. The newly secured capital will be used to accelerate platform development, expand the engineering and product teams, and onboard additional banks and specialist lenders. The company also plans to extend automation across the full loan lifecycle, from origination to monitoring, with workflows tailored to meet individual lender credit policies.
Sources: EU-Startups.