Oakam, a London, UK-based digital micro-lender, secured a £35m debt investment.
Victory Park Capital Advisors provided the funds.
The company intends to use the funds to accelerate its lending activity in the UK providing an additional £200m to unbanked communities, further accelerating financial inclusion.
Launched in 2006 by Frederic Nze, CEO, Oakam provides underserved communities who otherwise struggle with access to the funds they need to manage immediate financial obligations and improve long-term financial health leveraging a digital-first approach and alternative data in its underwriting process.
Since inception, the lender has disbursed over 420,000 loans totalling £320m.