UK Fintech Neyber Said to be Struggling to Attract New Funding

Neyber is a UK fintech that allows employees to borrow against their salaries; they started in 2013 and last raised money from the likes of Goldman Sachs in their Series C funding round in 2017; Neyber was also backed by Wadhaven Global Capital which has been in hot water ever since the arrest of its Chairman in India earlier this month; Neyber customers have been complaining that previously approved loans have been canceled with no explanation; Sky News has reported that rival Salary Finance is conducting due diligence on Neyber’s loan book to determine if a purchase makes sense; co-founder and Chief Strategy Officer Monica Kalia denied the rumors of financial distress saying that Neyber is “a thriving and ongoing business with over 2 million customers”. Sky News

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