International law firm Osborne Clarke has successfully advised Abound, the consumer arm of Fintern Ltd, on completing an £800 million financing round. Abound is a UK-based fintech that leverages artificial intelligence and Open Banking to offer more precise and affordable loans. This funding round includes a blend of debt and equity, marked by a multi-year asset-backed debt financing deal with Citi and a Series B equity round led by GSR Ventures from Silicon Valley. The new funds aim to facilitate Abound’s entry into the UK prime lending market and the global roll-out of its proprietary AI credit technology platform, Render. The Osborne Clarke team was led by Partners Tom Bussy and James Taylor, assisted by Senior Associates Joe Roberts and Adam Turner, and Associates David Morgan and Olivier Jacquelin. This transaction further extends their long-standing relationship, having previously advised on Abound’s £500 million funding round last year.

Financial Technology, Legal Services, Consumer Finance,United Kingdom, United States

https://www.osborneclarke.com/news/osborne-clarke-advises-ai-led-fintech-abounds-ps800m-funding-round