Fleximize, a multi-award-winning business lender, has successfully bagged a hefty £136m in securitised funding.
This significant financial backing comes from none other than the renowned existing investor, Goldman Sachs Asset Management, and the new lending partner, Citi.
Despite the turbulent market dynamics that have compelled several alternative lenders to recede from SME lending, Fleximize has steadfastly surfaced as a dominant force in the sector. Their recent accolade as the Best Business Loan Provider at the Business Moneyfacts Awards is a testament to their industry prowess.
With a mission to innovate in the digital lending realm, Fleximize utilises its state-of-the-art proprietary technology combined with avant-garde underwriting processes. Their robust system ensures a streamlined application procedure, enabling businesses to swiftly and effortlessly acquire the necessary funds.
The new capital influx will be channelled by Fleximize towards settling existing liabilities. Furthermore, the firm is poised to augment its lending ventures, escalate its growth rate, and bolster its pioneering status in the digital lending universe.
Fleximize CEO Peter Tuvey remarked, “We are thrilled to secure this new financing, which is significant for the future strength and potential of Fleximize.” He further expressed gratitude and enthusiasm, stating, “We are delighted to welcome Citi as a lender in this transaction and continue our partnership with Goldman Sachs Asset Management, two renowned global financial institutions. The proceeds from this financing will play a vital role in assisting in our growth and broadening our reach, as we continue to provide best-in-market finance solutions to businesses across the UK.”
Reflecting on their association with Fleximize, Pankaj Soni, Managing Director in the Private Credit business within Goldman Sachs Asset Management, shared, “We believe that Fleximize offers a flexible and transparent product to UK SMEs in a market segment that is under-served by traditional lenders. We are delighted to be supporting their growth and look forward to build on our relationship.” Similarly, Sebastian Walf, head of EMEA Asset-Backed Securities at Citi, conveyed, “We are delighted to provide this securitised facility to Fleximize, which will support further lending to UK SMEs. Citi has extensive experience in European SME ABS, and securitisation continues to play an important role in financing this market.”
On a concluding note, Fleximize’s commitment to innovation and superior service is further evidenced by their recent recruitment of 18 fresh talents spanning diverse functional areas, all while consistently advancing their technological offerings for better servicing SMEs.
Keep up with all the latest FinTech news here.
Copyright © 2023 FinTech Global