Ambitious Kilkenny fintech start-up Loanitt plans to grow its headcount to 40 people by the end of 2021.

Kilkenny-based fintech start-up Loanitt has raised €570,000 in funding from investors in the South East Business Angel Network (SEBAN) along with Enterprise Ireland.

The company has already grown staff numbers to 15 people in less than 12 months, with plans to target a headcount of 40 people by year-end 2021. SEBAN angel investors have contributed €270,000 to this funding round, while Enterprise Ireland has invested an additional €300,000.

“The arc of growth that Loanitt has experienced in 2020 is set to continue into 2021, as we prepare to make in-roads in new markets”

Credit intermediary Loanitt has developed innovative technology and open banking solutions which streamline the credit application process and remove the need for documentation at no cost to the consumer.

Arc of growth

Loanitt has been on a upward trajectory during 2020, with its newly appointed chairman, Conor Molloy, bringing a wealth of experience from his time working across European financial markets, providing board counsel to Central Banks, banking institutions, and most recently, European fintech giant Revolut.

Loanitt’s wider leadership team boasts extensive international experience across the technology and consumer credit verticals, driven by a shared ambition to help change the current banking landscape with a more consumer-centric and efficient financing model.

Originally founded by John Duggan and Padraig Nolan, Loanitt has assembled a best-in-class team, with access to a broad panel of lenders to help prospective customers find the right funding deal based on their specific needs and credit level.

“The arc of growth that Loanitt has experienced in 2020 is set to continue into 2021, as we prepare to make in-roads in new markets and add significantly to our ever-increasing team,” said Padraig Nolan, co-founder of Loanitt.

“Together, we are transforming the credit application process, which has typically been defined by protracted timelines and less flexible processes. Consumers deserve better. At Loanitt, we want to pave the path for a smooth and more seamless customer journey.”

Pictured at top: Loanitt co-founders John Duggan, CEO and Padraig Nolan, COO

By John Kennedy (john.kennedy3@boi.com)

Published: 27 October, 2020

Recommended