Manchester-based FinTech startup Crediflow AI has raised £1.5 mn to develop its AI-powered commercial lending platform, which automates financial analysis and reduces the administrative work involved in assessing loan applications.
The investment was led by NPIF II – PXN Equity Finance, managed by PXN Ventures through the Northern Powerhouse Investment Fund II (NPIF II). Early-stage venture capital firm Haatch and a group of angel investors also participated.
- Crediflow AI secured £1.5 mn in funding led by NPIF II – PXN Equity Finance, with participation from Haatch and angel investors.
- Its AI-powered platform automates financial spreading, bank statement analysis and credit risk assessments, reducing processing times from several days to 10-30 minutes.
- The company plans to expand its engineering and product teams, onboard additional banks and specialist lenders, and automate more of the commercial lending lifecycle.
NPIF II is a £660 mn investment programme covering the North of England. It provides loans ranging from £25,000 to £2 mn, alongside equity investments of up to nearly £5 mn.
Founded in 2024 by Drey Kenfack, Crediflow AI develops software that helps banks and specialist lenders process borrower information, prepare credit assessments and manage lending decisions.
Kenfack previously spent more than a decade in commercial lending and private credit, holding senior credit positions at Ford Credit Bank, DF Capital Bank and Advance Global Capital.
Crediflow AI automates credit analysis and loan underwriting
Commercial lenders typically collect and review financial statements, bank transactions and borrower documentation manually before preparing credit assessments for approval.
Crediflow AI consolidates these records and structures the information into credit analysis that lending teams can review as part of their approval processes.
Its flagship product, FlowSpread, automates financial spreading by extracting income statements, balance sheet information and cash flow figures from PDFs, tax returns and bank statements.
The software reduces the need for manual data entry and preparation of financial information used in commercial credit assessments.
A separate Bank Statement Analysis tool automatically categorises transactions across multiple bank accounts, reconciles them against submitted financial statements and identifies potential credit risk indicators.
These include unusual transaction activity, cash flow volatility and concentration risk.
According to Crediflow AI, its technology can reduce processes that previously required several days to approximately 10-30 minutes.
The platform is already used by hundreds of credit professionals across the UK, Europe and the US. Its customers include AddWorking Capital and Iveco Capital.
Growing a loan book takes more than finding borrowers and having capital available. You need the capacity to assess those businesses, get decisions through approval and stay on top of risk once the money is out the door. I’ve spent much of my career doing that work.
Kenfack, CEO and founder of Crediflow AI
“When every transaction requires hours of manual preparation, it affects how much business a lender can take on and which deals are worth pursuing. We built Crediflow to bring that workload down and give credit teams more time to understand the borrower and structure the financing,” said Kenfack.
NPIF II backs AI automation in commercial lending
The investment follows Crediflow AI’s participation in PXN Ventures’ PraeSeed programme, a 12-week initiative developed in partnership with the British Business Bank and NPIF II. Crediflow was one of eight companies selected to receive investment through the programme.
Joe Ball, senior investment associate at PXN Ventures, said manual lending processes continue to slow financing decisions for businesses seeking capital.
Businesses of all sizes and across all sectors often rely on commercial finance for a multitude of reasons, but the processes involved in granting this finance are often largely manual, making the process inefficient and slowing down lending decisions.
Joe Ball, senior investment associate at PXN Ventures
“By automating this area of the sector, Drey and the Crediflow AI team are not just supporting lenders but also removing barriers for companies that need funding to grow,” Ball added.
Crediflow AI plans expansion across the commercial loan lifecycle
The company will use the new capital to accelerate product development, expand its engineering and product teams, and bring additional banks and specialist lenders onto its platform.
Crediflow AI also plans to extend automation beyond initial credit assessment to cover more stages of the commercial lending lifecycle, including loan origination and ongoing monitoring.
The planned functionality will incorporate workflows aligned with each lender’s credit policies, allowing financial institutions to automate administrative and analytical processes while retaining their established underwriting requirements.
The expansion will build on Crediflow’s existing financial spreading and bank statement analysis tools, extending AI-supported processing into credit monitoring after loans have been approved.
