Flexitime receives £136m financing for SME lending solutions
By Gloria Methri
Business lender Fleximize has secured £136 million in securitised funding from existing investor Goldman Sachs Asset Management and new lender Citi.
Despite challenging market conditions, leading to other alternative lenders to withdraw from SME lending, Fleximize has emerged as a prominent player in the industry.
This latest securitised facility will be utilised by Fleximize to redeem existing debt, expand its lending operations, accelerate its growth trajectory, and reaffirm its position in the digital lending space.
“We are thrilled to secure this new financing, which is significant for the future strength and potential of Fleximize,” said Peter Tuvey, Co-Founder and CEO of Fleximize.
By leveraging its proprietary technology and innovative underwriting processes, Fleximize ensures a seamless and expedited application process, allowing businesses to access the funds they need quickly and efficiently.
Tuvery added, “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.”
Pankaj Soni, Managing Director in the Private Credit business within Goldman Sachs Asset Management, said “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 building on our relationship.”
Sebastian Walf, Head of EMEA Asset-Backed Securities at Citi said, “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.”
The firm has recently hired 18 new staff members across a range of functions and continues to invest in technology to improve its services to SMEs.
IBSi Daily News Analysis
December 08, 2023
Most consumers seek safer, easier payment verification, research revealsRead More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage