SAPI, a payment-linked financing platform, has raised around £60 million in debt and equity funding.
The funding – more than £57m in debt and almost £4m in equity – will be used to scale SAPI’s repayment-at-source technology and expand its global footprint.
The round was led by Hudson Cove, a US-based alternative credit asset manager, marking one of the firm’s inaugural UK transactions as it looks to expand beyond the United States – and received continued significant support from existing equity investors, Triple A Capital and Passion Capital.
The term sheet for the credit facility was signed just 17 days after the first investor meeting, underlining investor confidence in SAPI’s approach to embedding lending within payment flows.
SAPI was co-founded by Mai Le, formerly of Goldman Sachs, and Alexis van Lennep, formerly of AlixPartners. The company already supports major payment partners in offering embedded credit – and has advanced more than $40m to small businesses, 90% of which are immigrant or woman-owned.
Access to finance remains a persistent challenge for small firms. In the UK, the share of smaller businesses using external finance fell from 50% in late 2023 to 43% by mid-2024, with micro and minority-led companies the hardest hit.
“Having the right backer at the right time can fundamentally change someone’s life and the trajectory of the business they’ve started,” commented Mai Le, co-founder and CEO of SAPI.
“This funding round lets us scale payment-linked financing that repays at source and reaches more business owners who are too often overlooked by traditional lenders.”
Embedded finance is expanding rapidly across Europe. SAPI’s mission is to make access to finance fair, effortless and inclusive, particularly for small and micro businesses underserved by traditional lenders.
As small businesses increasingly rely on digital payment systems, many payment providers are looking for ways to provide credit to their business customers.
SAPI provides the infrastructure that makes this possible, embedding lending directly into payment flows and collecting repayments automatically as companies get paid. Its technology and payment-linked capabilities expand credit access for independent retailers, hospitality businesses and eCommerce sellers, removing the red tape of traditional finance and reducing lengthy waiting times.
“By partnering with payment platforms, we can meet business customers where they already operate,” said Alexis van Lennep, co-founder and CCO, SAPI. “Our aim is to make access to capital as straightforward as taking a payment.”
Mai Le grew up in a small village in Vietnam before building a career in global finance, where she helped build and scale several lending programmes totalling more than £10 billion at Goldman Sachs in London.
“Access to capital can define what’s possible for a business or entrepreneur,” said Mai Le. “Too often, startups and small companies, frequently founded by women or immigrants, are denied credit at a crucial moment in their journey. SAPI exists to make that access fair, effortless and available to those who deserve it.”
With offices in Hanoi and London, SAPI has recently established a financial technology entity in Vietnam to accelerate growth across Asia-Pacific markets.