FundingKnight gets FCA authorisation

By Moriah Costa on 16th July 2017

P2P/Marketplace LendingAlternative Credit

The specialised peer-to-peer marketplace lender was given full authorisation from the Financial Conduct Authority.

FundingKnight gets FCA authorisation

 

The specialised peer-to-peer marketplace lender was given full authorisation from the Financial Conduct Authority.

GLI Finance’s P2P lender, FundingKnight, was granted full authorisation on Friday. The platform has been operating under interim status since 2014.

“This is an important milestone for the business and demonstrates its commitment to maintaining the expected standards of regulatory compliance designed to protect both funders and clients,” GLI Finance said.

The firm plans to move the P2P lender into the Sancus BMS group of companies to expand its offering into the UK asset based lending market. The platform is increasing its sales force in the UK in anticipation of the expansion.

FundingKnight was acquired by GLI Finance in 2016 and is part of the firm’s development of a new-look, including bringing various GLI assets into Sancus Group. GLI is an alternative finance company and has invested in various fintech platforms.

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