Noggin HQ raises £2.3M seed to challenge UK credit bureaus with FCA licence

What's the deal? Newcastle-based fintech Noggin HQDealroom has a profile for this one. Try Dealroom → has raised £2.3 million in an oversubscribed seed round and secured credit referencing authorisation from the Financial Conduct AuthorityDealroom has a profile for this one. Try Dealroom →. The round was led by Blackfinch VenturesDealroom has a profile for this one. Try Dealroom →, with Oxford CapitalDealroom has a profile for this one. Try Dealroom →, Bethnal Green VenturesDealroom has a profile for this one. Try Dealroom →, and angel investor Alastair DouglasDealroom has a profile for this one. Try Dealroom → of TotallyMoney participating. It follows a £710,000 pre-seed raise.

What's next? Noggin HQ uses permissioned banking transaction data via open banking to assess creditworthiness, aiming to help lenders identify reliable customers who are often penalised by legacy systems, including those with thin credit files or who have recently moved from abroad. The capital will support the move from pilot phases into full-scale UK adoption.

The signal: The FCA authorisation allows Noggin HQ to provide cashflow-based credit data directly to FCA-authorised lenders, positioning it as a direct alternative to the established credit bureaus.

Read more: FF News

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