SME lender Reward Finance Group has received £40m of debt funding from Foresight Group.
Reward provides business finance, invoice finance and trade finance to businesses of many sizes.
Foresight provided a loan note facility in August 2017, leading Reward to draw down £20m so they could enable a partial refinance of the Tradehold funding, as well as providing capital to help grow the company’s loan book.
Foresight, an independent infrastructure and private equity investment manager, has over £2bn of assets under management. Two years ago, the company won financier of the year at the 2015 New Energy and CleanTech awards.
Foresight Investment Manager Amy Crofton said, “Reward Finance Group has an exceptionally strong track record of profitable growth. We have known the business for some time and have been impressed by its development over the last few years.”
“Working with the Reward team, we structured a flexible debt facility that will provide substantial new capital resources to promote the ongoing success of the Company.”
Copyright FinTech Global 2017
