An award-winning Newcastle firm which aims to expand mainstream credit has closed an investment round that aims to support its growth.
Noggin HQ, which is based at the Toffee Factory in Ouseburn, has secured undisclosed investment from Lifted Ventures, an early-stage investment network focused on increasing the flow of capital into the regions and advocating for the benefits of investing in women-led firms. Lifted joins investors in the firm that include Oxford Capital, Bethnal Green Venture and SyndicateRoom.
The company was launched by childhood friends Evangeline Atkinson and Laura Mills in 2021 to help the millions of people who are prevented from borrowing money because of a poor credit score, or the fact they don’t have one. An estimated nine million people in the 海角视频 have credit scores that don’t reflect their true financial status and are often faced into higher-cost borrowing that many struggle to pay back.
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Noggin HQ - which won the start-up award at last year’s North East Business Awards - is now looking for further investment to drive its growth, saying that it would “welcome conversations with aligned investors who are excited to back a mission-driven business working at the intersection of fintech and fairness.”
Co-founder Evangeline Atkinson said: “This is an energising step for Noggin. We believe that better credit access shouldn’t only be available to the few, and this investment brings us closer to making that a reality.
“We’re thrilled to have several investors from the North East join us - a region that deeply understands the challenges we’re addressing.”
Jordan Dargue, co-founder of Lifted Ventures, said: “Eva and the team are building something bold and urgently needed. From day one, they’ve shown a rare combination of insight, tenacity and purpose. We’re delighted to have participated in this first tranche and to be part of a brilliant group of female North East investors who believe in Noggin’s mission and its future potential.”
Lifted Ventures operates two angel investment networks that aim to back female-led businesses. It has supported female-led business to leverage investment of more than £11m, as well as offering investment education programmes that aim to simplify early-stage investing.