Noggin HQ Raises £2.3m and Becomes an Authorised Credit Reference Agency
Founded by childhood friends Eva Atkinson and Laura Mills, the Ouseburn fintech uses banking data to give lenders a clearer picture of affordability.
- Noggin closed an oversubscribed £2.3m seed round led by Blackfinch Ventures.
- It is one of only a handful of firms authorised as a UK credit reference agency in the last decade.
- The business is based at the Toffee Factory in Newcastle’s Ouseburn.
Newcastle fintech Noggin HQ has closed an oversubscribed £2.3m seed round led by Blackfinch Ventures, in the same week it gained authorisation as a UK credit reference agency.
Only a handful of businesses have been authorised as credit reference agencies in the last decade, making the approval a significant milestone for the young company.
What Noggin does
Traditional credit scores do not always show whether someone can actually afford to borrow. Noggin’s technology uses permissioned banking transaction data to give lenders a more up-to-date view of a person’s finances.
The aim is to open up credit to people who might otherwise be overlooked by conventional scoring.
Built in the North East
The business was founded by childhood friends Eva Atkinson and Laura Mills and is based at the Toffee Factory in Ouseburn. One of its investors has described the opportunity as building a category-defining credit infrastructure business from the North East.
