Noggin HQ Raises £710K to Improve Credit Access
Newcastle upon Tyne, April 2024 – Noggin HQ, founded to solve the “credit invisible” problem facing 5.8 million in the UK, today announced it has raised £710,000 in Pre-seed funding from leading investors, including Oxford Capital, Bethnal Green Ventures and SyndicateRoom. For millions in the UK, their credit score (or lack of one…) prevents them from borrowing money when they need it. Noggin HQ is on a mission to improve access for this excluded group, disproportionately made up of young people, recent immigrants and renters.
Despite significant barriers to entry into the space, Noggin received FCA authorisation in December 2023.
This funding is being used to accelerate the launch of their first product, a price comparison platform, where people can purchase products with fair and transparent credit terms. “When I was rejected for a mobile phone contract, what stuck with me was the extreme lack of transparency and control. With 1 in 3 UK adults now estimated to have difficulty accessing products from mainstream lenders, a solution is much needed“ Eva, CEO of Noggin HQ
For the Newcastle-based company, founded by childhood friends – Evangeline Atkinson and Laura Mills – this marks a significant step on their journey to make access to credit equitable. After originally founding the company in London, they quickly moved Noggin back to their hometown in the North East, set on creating jobs in the region. “As two women from the North East, we’ve had to overcome significant challenges to get to this stage. But as a result, we’re extremely intentional in our approach. And we’re unwavering in our commitment to do right by people” Laura, COO of Noggin HQ
They've invested in Noggin HQ
Get to know these Fintech investors
Click here for a full list of 6,481+ startup investors in the UK