Noble nabs $18 million Series A to simplify credit
Noble nabs $18 million Series A to simplify credit
The fintech company lets companies build, launch, and scale credit-based products and services
Noble, a no-code fintech company, has announced that it has raised $18 million in a Series A round led by Insight Partners with participation from Cross River Digital Ventures, Y-Combinator, Flexport Fund, TLV Partners, Operator Partners, Verissimo Ventures, Interplay Ventures, Plug and Play, and the George Kaiser Family Foundation.
Noble’s platform helps companies manage the entire underwriting flows end-to-end without building APIs integrated into their offerings. It can connect and consume standard and alternative data sources and helps non-technical users create credit offerings that are best suited for their products or services. It can give customers the ability to create, edit, and launch credit models without the need for long deployment processes.
"We wanted to create the infrastructure I wish I had when I was building lending products,” said CEO and co-founder Tomer Biger. "There are simply too many challenges that companies face when looking to build credit products including compliance, debt funding, and underwriting. Noble’s mission is to remove these barriers and enable the inevitable movement of lending experiences from offline to online in the same way that payment processing platforms built the new payment rails that enabled the explosive growth in online payments witnessed over the past decade.”
Embedded finance is one of the fastest growing areas of fintech and a variety of companies have started offering financial services to accommodate this. Even though banking-as-a-service (BaaS) has increased in recent years, it is considered a ‘first step’ and the industry is expected to evolve beyond that and unlock the full potential of embedded finance.
“Noble has created a platform for credit underwriting infrastructure as a service, enabling any company to build proprietary credit products in-house. With its strong product offerings and impressive founding team, Noble has already acquired B2B and B2C customers across use cases,” said Daniel Aronovitz, Principal at Insight Partners. Yonatan Mandelbaum, Principal at TLV Partners, added: “In just a short time working with the Noble team, it’s become clear that they are building the category leader in the embedded credit market, which is the future of embedded finance.”
Nobel was co-founded in 2021 by Biger and Moran Mishan, who serves as CTO. It helps companies build, launch, and scale credit products by providing an infrastructure to assess their consumer or business customers’ creditworthiness. Users can build credit products such as credit cards, cash advances, loans, and BNPL.
