Jonathan Kramer / Fluro.
Fluro secures £200m through BNP Paribas partnership
The financing round will help Fluro stomach a burdened market.

Fluro has announced a £200m financing partnership with French bank BNP Paribas to "expand its balance sheet".
The London-based embedded lender is looking to grow its lending capabilities, with the funding key to providing "even more customers with our fair rates and transparent service," Jonathan Kramer, chief operating officer at Fluro said in a statement.
Established in 2014, Fluro provides unsecured personal loans to prime and near-prime UK consumers through price comparison sites.
The firm states that is the pioneer of "Real Rates, Real Elibigility", a service that offers customers transparency on cross-market lending rates.
Formerly known as Lending Worksm the lender rebranded as Fluro in September, with Nick Harding, Fluro's founder telling AltFi that the name-change would help them "squarely focus" on embedded lending.
Embedded lending refers to lending offered through non-financial service or products, eliminating the high-cost of third parties like financial institutions.
Harding told AltFi, that under the new Fluro brand, the firm will look to develop partnerships and market its lending technology for firms wishing to quickly offer their own consumer loans.
The £200m financing comes during a period of uncertainty in the consumer lending market.
According to UKFinance, customers on fixed-rate mortgage deals will not see their payments change. However, the average borrowing looking to refinance this year may see a substantial reduction to their disposable income due to inflation and interest rate spikes.
The report suggests that house purchase activity has returned to pre-pandemic norms in Q2 2022, but cost of living pressures are set to dampen demand for houses in the near future.
The pressure faced by British homeowners in the face of the cost-of-living crisis is becoming ever more palpable.
Last Wednesday, the average two-year fixed-rate mortgage on homes rose to 6.07 per cent, the highest level since November 2008. In tandem, the average five-year fixed-rate hit 6 per cent, a record not seen since 2010, according to Moneyfacts Group Plc via Bloomberg.
Despite the bearish outlook for the UK's housing market, Kramer said: "In these uncertain economic times, Fluro has both the experience and funding to prudently grow lending to UK consumers.”