Firenze, the fintech innovator redefining Lombard lending, has successfully closed a £2.5 million Seed funding round. 

The round was led by Outward VC – the backers of Curve, PrimaryBid and Vauban – alongside top-tier early stage fintech investors Form Ventures and Portfolio Ventures.

Firenze’s latest investment will be used to fuel the firm’s rapid growth and support its mission to broaden access to Lombard lending outside of private banks who typically only serve those with over £1m in assets – the firm is aiming to open up over £1 billion in Lombard lending for mass affluent investors over the next three years. 

By bringing Lombard lending to wealth managers – dragging it out of the closed world of private banking and the super-rich – Firenze enables mass affluent investors and those that don’t want to work with a private bank to borrow against the value of their investment portfolios without selling assets, disrupting investment plans and triggering capital gains – all while continuing to make gains from investment returns. 

The Firenze platform offers loans from as little as £65,000, secured against clients’ investment portfolios – and because borrowing is secured lending with highly liquid collateral, Lombard lending offers lower interest rates compared to typical unsecured loans and allows decisions to be made in hours rather than weeks or months

Firenze is already collaborating with leading wealth managers overseeing c. £75 billion in assets under management (AUM). Allowing them to complete their proposition, better meet client needs and simplify their operating model through no longer needing to move assets to a private bank to offer Lombard lending.

David Newman , CEO of Firenze, commented:

"We are thrilled to have Outward, Form, Portfolio Ventures and an incredible range of angel investors backing our vision to broaden access to Lombard lending. Market demand has far exceeded our expectations and this funding enables us to accelerate Firenze’s rollout to more wealth managers, support their advisors and drive awareness on the benefits of Lombard lending.  

“Having Andi and the Outward team lead this round is a privilege. From the outset, it was clear we shared a vision for building a category defining, venture-scale leader in Lombard lending. Firenze is at the forefront of this market and this investment allows us to move even faster toward that goal.” 

Andi Kazeroonian, Principal, Outward VC, commented:

“Outward has a long-standing thesis around the power of combining technology, networks and innovative structures to open up exclusive financial products to a much larger audience whilst also transforming the user experience. Firenze is the embodiment of this, bringing to market a highly demanded solution that acts as a clear win-win-win for borrowers, wealth managers and funders. David and his talented team have executed at an exceptional velocity to bring this vision to life and we are delighted to support them on their journey to build the next category defining fintech.” 

Will Martin, Founder of Portfolio Ventures, commented: 

"We're delighted to be joining the Firenze journey. David's experience and connections in Lombard lending and the team he is building are primed to take advantage of this huge opportunity." 

Patrick Newton, Founder of Form Ventures, commented:

"Lombard lending has long been a pillar of wealth creation for high net worths, and mass affluents have largely been locked out of the market. David and the Firenze team have the expertise, ambition and tenacity to change this for the first time."