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  • 📈 €650M Fund: Lending Gets a Makeover

📈 €650M Fund: Lending Gets a Makeover

$25M Raise Powers Robin’s Legal Tech

November 18, 2024

This is Cliff Equity, the UK’s business newsletter that keeps you informed on what’s important in tech, business and finance in less than 5 minutes

In today’s stories:

  • €650M Fund: Lending Gets a Makeover

  • $25M Raise Powers Robin’s Legal Tech

  • Kody's $20M Series A Funding: A Fintech Powerhouse!

The summary: AshGrove Capital’s €650 million fund is rewriting the rules of European SME lending, blending savvy US investment, top-tier performance, and a knack for championing resilient, high-impact businesses.

The details:

  • AshGrove’s Encore: London’s AshGrove Capital has closed its second specialty lending fund at a show-stopping €650 million, doubling the size of its debut. With 40% of the funds sourced from US investors, it’s safe to say the Brits have gone global.

  • Investing in the Underdogs: Fund II aims to champion Europe’s overlooked SMEs, lending €10-50 million to resilient B2B software and services firms with recurring revenues. Traditional lenders may snooze; AshGrove seizes.

  • Portfolio Highlights: From UK’s Proactis (business spend management) to Ireland’s NewsWhip (competitive intelligence) and Sweden’s Position Green (sustainability software), AshGrove’s investments tick the innovation and impact boxes.

  • Private Credit, Refined: Co-founder Phil Fretwell says AshGrove is breaking barriers in SME credit, prioritizing business quality over size. With top-tier Fund I performance and a commitment to sustainability, AshGrove isn’t just lending—it’s leading.

Why it matters: AshGrove’s success underscores Europe’s growing appetite for alternative lending, especially for SMEs often ignored by traditional banks. By doubling their fund size and attracting US investors, they’re proving that niche, resilient businesses can be both profitable and impactful. It’s a reminder that in finance, much like tea, quality trumps quantity every time.

The summary: Robin AI is revolutionising the legal game with cutting-edge tech, big-name clients, and savvy investors, proving that even law can be bold and brilliant.

The details:

  • Raking in the millions: Robin AI secures an "opportunistic" $25M funding boost from satisfied customers and investors, following its $26M Series B in January and the launch of its document-crunching marvel, Robin Reports.

  • Power moves on the global stage: From UBS to PepsiCo, Robin AI’s Fortune 500 clientele loves its knack for tackling M&A headaches and data breach dramas. Now with six-fold U.S. team growth, it's eyeing dominance in enterprise legal tech—bigger fish than law firms, they say.

  • Data is king: Armed with the "world’s biggest proprietary contract database" and partnerships with AWS and Anthropic, Robin AI’s secret sauce keeps it a step ahead in a fiercely competitive market.

  • Trailblazing amidst turmoil: With law firms slow to innovate, Robin AI is cashing in on enterprise woes, making legal workflows smoother, faster, and smarter—because, let’s face it, no one likes a legal bottleneck.

Why it matters: Robin AI is proving that even the driest corners of the legal world can be shaken up with clever tech and a dash of ambition. By winning over Fortune 500 giants and turning customers into investors, they’re not just selling solutions—they’re rewriting the rulebook. In a market where law firms snooze, Robin AI is making sure enterprises don’t lose.

The summary: Kody’s £30 million in funding, impressive $1 billion processing volume, and global ambitions make it a fintech force to be reckoned with, ready to revolutionise in-person commerce worldwide!

The details:

  • Kody has bagged a cool $20 million in Series A funding, bringing its total haul to $30 million—proof that fintech’s not just for the big boys anymore.

  • The platform’s processing volume is about to hit $1 billion, helping retail and hospitality businesses cut costs and boost profits by streamlining operations and cash flow.

  • Global ambitions are in the pipeline, with plans to expand to the UK, Europe, Hong Kong, and Singapore. Watch out, world—Kody's coming for you!

  • Founder Yoyo Chang went from 13-year-old stock market whiz to fintech CEO, turning a £120k self-investment into a game-changing platform for modern commerce.

Why it matters: Kody’s $30 million in funding shows there’s a growing appetite for smarter, more scalable solutions in the retail and hospitality sectors—who wouldn’t want to cut costs and boost profits? With a nearly billion-dollar processing volume, the platform’s proving it’s more than just a flash in the pan, making business operations smoother than a pint poured perfectly. And with global expansion on the horizon, Kody’s about to give international markets a taste of how UK ingenuity can reshape in-person commerce.