Tangible, a London-based fintech that helps companies access and manage debt finance, has announced the closing of a $4.3m seed funding round.

The funding round was led by Pale Blue Dot with participation from MMC, Future Positive Capital, Unruly, SDAC, Prototype Capital, and Aperture. This funding follows a previous £4m ($5.45m) funding round completed last year.

Focus on "Hardtech" Companies

Tangible specifically targets "hardtech" companies – those active in the robotics, climate, mobility and data centre sectors – helping them obtain financing. The company works with a broad range of lenders, from private credit and hedge funds to equipment financiers and traditional banks.

Tangible says that "hardtech" firms often don’t fit into the defined VC playbook and need well-structured debt alongside equity financing. Many of these companies struggle to obtain scalable debt financing until they are deemed mature.

AI-Powered Platform

Tangible's AI-powered platform standardises the data, documentation, and ongoing reporting that lenders need. This, according to the company, reduces underwriting time and cost for lenders, and enables founders to run structured facilities without building an in-house structured finance team.

Tangible currently employs 13 people and plans to use the new funds to expand its team and develop new products.