The British Business Bank has partnered with Avellinia Capital, a private credit investment firm, to enhance funding opportunities for UK FinTech lenders.

Through this collaboration, the companies stated that hundreds of smaller businesses in the UK could benefit from improved access to finance and a greater supply of working capital.

The British Business Bank noted that this partnership marks its first commitment under a new strategic approach. By supporting fund managers that invest in FinTech lenders, the organisation aims to address a funding gap in the early-stage FinTech lending sector.

The first recipient of dedicated funding under this partnership will be Triver, a FinTech lender specialising in flexible finance solutions for smaller businesses.

Adam Kelly, managing director and co-head of funds at the British Business Bank, said the organisation has supported the FinTech sector since 2013.

“While the sector is one of the UK’s greatest strengths, there are limited institutional funders active in the early-stage FinTech market,” he added. “By partnering with Avellinia Capital, the British Business Bank will be able to support fast-growing FinTech lenders serving the UK smaller business market through co-investments alongside Avellinia Capital’s fund.”

---