UK SME lender Fleximize secures £136m financing from Goldman Sachs and Citi
British business lender Fleximize has secured £136 million in securitised financing from existing backer Goldman Sachs Asset Management and new lender Citi.
This latest facility, which will be backed by loans to small and medium-sized enterprises (SMEs) originated by Fleximize, will be used to redeem existing debt, expand lending operations and accelerate the company’s growth in the market.
Founded in 2014 and headquartered in Ipswich, Suffolk, Fleximize acts as a digital lender to UK’s SMEs, providing “flexible finance” through its proprietary technology and underwriting process, claiming a “seamless and expedited” application process for businesses to access the funds they need “quickly and efficiently”.
Peter Tuvey (pictured), co-founder and CEO of Fleximize, says the new financing is “significant” for the company’s future.
“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.”
Pankaj Soni, managing director in the private credit business within Goldman Sachs Asset Management, says they chose to support Fleximize as it offers a “flexible and transparent product to UK SMEs in a market segment that is under-served by traditional lenders”.