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Nucleus Commercial Finance lands £200m funding from NatWest

The new funding line from NatWest will help Nucleus lend to another 2000 SMEs using the fintech lender’s AI-powered automated underwriting system.

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Chirag Shah/Nucleus

Fintech lender Nucleus has landed a £200m funding line from NatWest to bolster its SME loans business.

The new cash comes in the form of a lending facility with the bank and will be used for short and long-term unsecured loan products up to £2m.

NatWest’s new line of funding brings Nucleus’ total funding to £900m, translating into nearly £3bn of lending since launching 12 years ago. 

‘There has been a significant funding gap in the UK for several years, leaving SMEs struggling to meet their full potential through lack of access to financing," Nucleus Commercial Finance's CEO Chirag Shah said.

‘This funding is also fantastic news for Nucleus as a business, as well as our customers. It reinforces our role as a true alternative to high street banks, opening the potential to work with more businesses across sectors and sizes and to branch into the support of larger businesses, which we believe are currently underserved," he added.

Shah says Nucleus has now overhauled its entire lending process and now 96 per cent of underwriting decisions are made in under one minute, thanks to automation and open banking.

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