Fractal Labs, a London-based financial services firm that caters to SMEs, as per recent reports this week, became the first company to receive fintech portfolio investment from Deloitte, a New York, NY-based accounting and professional services company.
Fractal’s AI-optimized, two-sided API platform, streamlines the exchange process between SMEs and their financial services providers, thus aggregating and enhancing the data required to help teams make informed financial risk decisions and improve customer engagement by intelligently targeting the intended customer base.
Nicholas Heller, CEO and co-founder of Fractal, believes that the success of SMEs is crucial to economies. In a statement, Heller says, “It is a rarity to work so closely with such an established business, and still be given the freedom to build the products we truly believe will revolutionize the banking experience for small businesses, who are at the core of everything we do at Fractal Labs.”
Continuing, he adds, “Our ambition is to be a truly global business, and this new investment confirms that we are on the right track to achieve what will be an incredible feat with a partner who has a lot of confidence in both our team and mission.”
Louise Brett, head of fintech at Deloitte, states Fractal Labs is “an exciting young company that is leveraging the UK’s leadership in open banking” and that Deloitte is actively looking to extend its support for Fractal to realize its global ambitions.