For the next six months, the start-up plans to onboard additional design partners, expand in the EU and UK markets, and triple the size of its team.
Dublin-based tech start-up Rekord has raised $2.1m in pre-seed funding for its AI-driven credit decisioning platform.
The fintech, founded in 2024 by CEO Christopher Lynch and CTO Mark Noone, has built an AI native orchestration platform to improve efficiency in loan processes.
“Lenders today depend on a patchwork of core banking systems, loan origination platforms, spreadsheets and external data sources to process credit applications,” says the company in today’s (22 September) announcement. “Rekord brings these together into a single orchestration layer, enabling institutions to design, test and launch fully automated decision flows across mortgages, SME lending and consumer credit.”
Lynch says Rekord’s platform can reduce manual work in credit origination by up to 80pc.
The funding round was led by European VC Point Nine Capital, marking the firm’s first investment in Ireland, with participation from Octopus Ventures, Hello World, Baseline and a group of prominent angel investors such as Eugene Danilkis, co-founder of Mambu.
“We invested in Rekord because we see both a massive market opportunity and a founding team with the rare ability to meet it,” says Pawel Chudzinski, partner at Point Nine Capital. “This is about building trust in how AI is deployed in lending, and we believe Rekord can set the benchmark for the industry.”
According to today’s announcement, the start-up will proceed to spend the next six months onboarding additional design partners, expanding in the EU and UK markets and triple the size of its team. Rekord is also preparing to launch pilots with selected institutions to demonstrate its platform.
Co-founders Lynch and Noone are long-time friends who met at university before each going on to work at Amazon Web Services (AWS). Drawing on their experience at AWS – and inspired by the long and confusing ordeal they both went through when becoming homeowners – the two decided to tackle the fragmented systems of financial institutions.
The company states its ambition is to build “the global decision infrastructure for credit”.
“From day one, our goal has been to give lenders a platform for innovation,” says Noone. “Rekord sits across a lenders existing technology stack, making it simple to map out credit workflows, run experiments safely and scale them into production.
“That composability means institutions can move faster, stay compliant and focus their people on higher-value work instead of repetitive tasks.”
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