Lending platform 1st Stop Group has completed a £120m funding to help support the growth of its platform in the UK.
Citi provided £75m of the capital, with the remaining equity supplied by existing investors.
The company offers personal loans, home loans and car finance products. 1st Stop’s personal loan and car financing products are available from £2,000 to £15,000 with a 25.2 per cent APR representative. A home loan is available on the platform between £5,000 and £50,000, with a 24.6 per cent APRC.
The capital will be used to increase the lending and support capabilities to its UK customers.
1st Stop CFO Mark Robins said, “We are delighted to announce continued support from our existing funders and the introduction of Citi to our funding group. We envisage significant growth in our chosen markets and look forward to working closely with our funders, who have a recognised track record in our market space, to deliver on our growth aspirations”.
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