--- title: "UK fintech raises £800M for AI that determines how much money you can borrow" url: https://daily.dev/posts/uk-fintech-raises-800m-for-ai-that-determines-how-much-money-you-can-borrow-tzdnchh9d source_url: https://thenextweb.com/news/uk-fintech-raises-800m-ai-how-much-money-you-can-borrow type: article source: "The Next Web" published: 2024-05-07T16:16:52.266Z updated: 2026-03-15T03:33:50.807Z tags: ["ai", "fintech", "startup"] reading_time: 2 upvotes: 0 comments: 0 language: en --- > ## Documentation Index > Fetch the complete documentation index at: https://daily.dev/llms.txt > Use this file to discover all available pages before exploring further. # UK fintech raises £800M for AI that determines how much money you can borrow **[The Next Web](https://daily.dev/sources/tnw)** · 2 min read · 0 upvotes · 0 comments ## Summary London-based startup Abound raises £800M for its AI lending platform that determines loan amounts based on customers' bank transaction data. The technology results in 75% fewer defaults compared to industry standards, allowing Abound to offer lower interest rates to consumers. The funding round, led by GSR Ventures, brings Abound's total funding to £1.3bn. ## Full article daily.dev links to this article rather than hosting it. Read it at the original source: ## Similar posts on daily.dev - [Don’t just attend KubeCon \+ CloudNativeCon, Merge Forward your experience\!](https://daily.dev/posts/don-t-just-attend-kubecon-cloudnativecon-merge-forward-your-experience--l0rpp73x8) · CNCF · 0 upvotes · 0 comments - [Announcing H2 2026 KCDs](https://daily.dev/posts/announcing-h2-2026-kcds-m96goajm1) · CNCF · 1 upvotes · 0 comments - [Two months of Open Community Groups](https://daily.dev/posts/two-months-of-open-community-groups-asf52zhbs) · CNCF · 0 upvotes · 0 comments --- Tags: [#ai](https://daily.dev/tags/ai), [#fintech](https://daily.dev/tags/fintech), [#startup](https://daily.dev/tags/startup) [View this post on daily.dev](https://daily.dev/posts/uk-fintech-raises-800m-for-ai-that-determines-how-much-money-you-can-borrow-tzdnchh9d)