Various credit score investor Fintex Capital has agreed a funding line with Go Automobile Credit score to help £4m of month-to-month originations.
The partnership will assist develop the specialist motor finance lender’s mortgage e-book that stands at £60m in the present day, Fintex Capital mentioned.
Learn extra: Fintech funding agency grows UK presence
Since 2016, Fintex Capital has supplied loans of $400m (£313m) throughout the UK, Continental Europe and the US.
This deal is one in every of a number of amenities that the fintech funding agency has just lately closed, because it continues to develop its lending enterprise with alternatives throughout the capital stack.
“We’re delighted to work with Fintex, who share our strategy to knowledge science and excellence, thereby rising our capability to develop in our goal markets,” mentioned Mark Giles, chief govt at Go Automobile Credit score.
Based in 2017, Go Automobile Credit score has supplied finance to over 25,000 clients, of whom one fifth renew to lower-priced merchandise following profitable conclusion of their first agreements.
Learn extra: Fintex Capital reaches €200m funding milestone on Auxmoney platform
“Fintex is delighted to accomplice with Go Automobile Credit score, one of many main gamers in specialist motor finance,” mentioned Robert Stafler, chief govt of Fintex Capital. “We had been very impressed by the standard of their underwriting, which leverages know-how to responsibly lend to all forms of customers. We sit up for supporting Go Automobile Credit score on their development journey.”
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