PremFina, which claims to be the UK’s fastest-growing insurance premium finance provider, has announced the expansion of its funding partnership with Waterfall Asset Management to £100m, upsizing and extending its junior capital facility to support continued growth.
The amended facility increases PremFina’s balance sheet capacity and provides long-term runway for the company’s growth strategy.
The business has more than doubled its loan book over the past year, with its performance attributed to a proprietary technology platform, disciplined credit processes, and deep broker relationships that have delivered strong conversion rates and resilient portfolio metrics across market cycles, it said.
PremFina chief executive officer Sharon Bishop said, “This extension of our partnership with Waterfall is a strong endorsement of PremFina’s platform and track record. The transaction enhances our funding efficiency and provides increased flexibility as we continue to scale. We value Waterfall’s partnership and long-term support as we build towards our next phase of growth.”
Waterfall Asset Management UK director Krishin Uttamchandani said, “We are pleased to increase and extend our support for PremFina. The business continues to demonstrate robust performance, disciplined execution and, what we believe, is a differentiated proposition within the insurance premium finance market. This amendment reflects our confidence in the platform and our alignment with PremFina’s long-term strategy.”
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