Distribution Finance Capital seeks UK banking licence
New bank coming to the UK
Distribution Finance Capital (DF Capital or DFC), a subsidiary of TruFin, is looking to gain a UK banking licence.
DFC is focused on providing additional working capital to product manufacturers, distributors and dealer networks.
It was founded in 2016.
DFC’s leadership team comes from various businesses of GE. CEO Chris Dailey, for example, led GE’s CDF business in EMEA in the past. Most recently he was CEO at OakNorth, a UK bank focused on the SME market.
Neerav Soneji, CFO at DFC, used to work at GE Capital and CDF. Most recently, he was with Santander UK.
Alexander Pooley, COO at DFC, spent seven years at GE Commercial Finance and then five years in corporate development at another SME bank, Aldermore.
As mentioned above, DFC is owned by TruFin, a new banking and fintech firm in the UK. TruFin is, in turn, a creation of Arrowgrass, a UK-based hedge fund.
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