Amplifi Capital lands £100m securitisation warehouse with NatWest for Reevo Money expansion
London-based Amplifi Capital has agreed a private securitisation warehouse of up to £100 million with NatWest as it seeks to expand its personal lending platform Reevo Money.
Amplifi Capital secures £100m securitisation warehouse
The fintech firm specialises in near-prime consumer lending through its My Community Finance and Reevo Money brands, which were launched in 2018 and 2022, respectively.
The latter brand, which is authorised and regulated by the UK’s Financial Conduct Authority (FCA), offers consumer loan agreements with interest rates ranging from 22.7% to 50%, while it claims that funds can arrive “within minutes”.
Amplifi says that the facility will “further bolster [its] mission to provide as many customers as possible with accessible credit” and “create a level playing field” in the realms of inclusive credit access across the UK. The brand received an additional £50 million investment in the form of debt funding from M&G in June.
The company has enlisted the lending software solutions of its partner Lenvi to support the facility with backup servicing so that it can “ensure a robust and reliable infrastructure to support its innovative approach to lending”.
Amplifi’s CEO, Tobias Gruber, says its deal with NatWest has come “at an important time”, and will enable his firm to offer credit to customers who have been shunned by traditional lenders. He adds that Amplifi’s two businesses, My Community Finance and Reevo Money, have served savings and loan products to over 100,000 customers in the UK to date.
