European banking group BNP Paribas has entered into a £200m financing partnership with consumer lender Fluro.
Founded in 2014, Lending Works was acquired by private equity company Intriva Capital in 2020 and was rebranded as Fluro.
According to FinTech Finance, over the last two years Fluro has evolved to become an institutionally funded lender. The firm said that the facility by BNP Paribas will allow it to ‘significantly expand its balance sheet’.
The company currently employs 75 people and describes itself as a ‘tech-led business’ and ‘one of the UK’s most innovative embedded lenders’ providing unsecured personal loans to prime and near-prime consumers through partners such as price comparison sites.
Fluro COO Jonathan Kramer said, “Building on our eight years of experience, we are taking the next leap forward to creating the UK’s premier consumer lending proposition,” comments chief operating officer Jonathan Kramer. In these uncertain economic times, Fluro has both the experience and funding to prudently grow lending to UK consumers.”
Global investment platform Anthemis recently received financial backing from BNP Paribas in an investment round.
Founded in 2010, Anthemis has a primary focus on the FinTech and InsurTech sectors and has established a large portfolio of start-ups including eToro and international online money transfer business Azimo.
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