Stenn Raises $50M in Equity Funding at $900M Valuation

SME, finance, Stenn, digital

Stenn, a digital financing platform for small- to medium-sized businesses (SMBs), completed a $50 million equity funding round with Centerbridge that gives Stenn a $900 million valuation, according to a press release on Tuesday (April 12).

Stenn offers a proprietary technology stack that provides global SMBs in international trade with fast access to growth capital. The startup uses big data and custom algorithms to analyze the risks associated with credit, fraud and compliance. 

Tapping some of the world’s biggest financial institutions, the company can provide cross-border capital to SMBs within 48 hours. Stenn then manages the allocation of funds on their behalf. 

“A lack of access to finance is stunting the growth of SMEs around the world that are engaged in international trade,” said Greg Karpovsky, founder and CEO of Stenn.

Related: Embedded Finance Streamlines Expense Management for EU SMEs

“At Stenn, our purpose has always been to level the playing field for global SMEs, helping to plug a multi-trillion-dollar financing gap by connecting these businesses with low-cost institutional capital. Our proprietary platform and data analysis de-risks the process for our banking partners and provides a quick, simple and low-cost solution for SMEs,” Karpovsky said. 

Headquartered in London and founded in 2015, Stenn has provided more than $6 billion in financing to SMBs in over 70 countries across numerous sectors, from retail to IT services. The company has grown exponentially and so far this year has financed over $1 billion. 

“We have been impressed with Stenn’s disruptive approach to addressing the challenges of global trade finance supply and believe that Stenn has a highly scalable proposition. We are excited to be partnering and supporting Stenn’s growth at an important time in its evolution and during a period of uncertainty in the world,” said Jed Hart, co-head of Centerbridge’s European business and senior managing director. 

Read more: ​​FinTechs Think Big to Help Africa’s SMBs Find Working Capital