Peter Tuvey / Fleximize
SME lender Fleximize raises £136m from Goldman Sachs and Citi
The securitised funding will help accelerate Fleximize’s lending programme
Business lender Fleximize has extended its relationship with Goldman Sachs Asset Management and secured a new backer in Citi, as the two financial giants commit to a fresh £136m securitised facility.
The facility is backed by SME loans originated by Fleximize and will be used to redeem existing debt, expand its lending operations and accelerate the growth of the business.
“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,” Peter Tuvey, CEO and co-founder of Fleximize said.
Fleximize recently hired 18 new staff members and will also use its new funding to further invest in technology to serve its SME customers.
“We are delighted to provide this securitised facility to Fleximize, which will support further lending to UK SMEs,” Sebastian Walf, head of EMEA asset-backed securities at Citi said.
“Citi has extensive experience in European SME ABS, and securitisation continues to play an important role in financing this market.”