London-based FinTech Amplifi Capital has agreed a private securitisation warehouse of up to £100 million with NatWest as to expand its personal lending platform Reevo Money.
The company said that it has partnered with Lenvi to provide backup servicing for the facility to ensure a “robust and reliable infrastructure” to support its lending.
Amplifi Capital claims the move will allow it to broaden the amount of products it offers and support its aims to make credit accessible to underserved communities in the UK.
Last June, Amplifi Capital received an additional £50 million investment in the form of debt funding from M&G.
Commenting on the news Tobias Gruber, chief executive of Amplifi Capital (U.K.) Limited, said: "Amplifi Capital's technology has revolutionised the credit union sector in the UK. As a credit introducer, it has helped credit unions to issue savings and loan products to over 100,000 customers in the UK with a total loan book of over £420,000,000.”
He added: “The facility with NatWest gives us access to financing Reevo Money at an important time to enable us to continue offering customers access to credit when traditional lenders have turned them away."
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