SME lender secures £16.3m financing facility

SME lender Fleximize has announced plans for expansion after successfully closing a new £16.3m financing facility.

The funding – provided by Hadrian’s Wall Secured Investments Limited – will allow Fleximize to substantially increase its lending capacity amid plans to provide over £100m to SMEs by 2019.

The lender will also now further develop and diversify its product offering, as well as improving its technology platform with the addition of dedicated areas for brokers and direct clients.

Peter Tuvey, co-founder and managing partner of Fleximize (pictured above), said: “It’s been an incredibly positive start to 2017 for Fleximize, with our lending to SMEs in all sectors growing at a substantial rate.

“This additional access to funding will fuel our capability to support businesses requiring capital in an unpredictable economic climate, while allowing us to expand our excellent team.

“We’ve already made a number of key hires this year – including former HSBC and Aldermore senior manager Craig Farmer as chief risk officer – and we are looking to increase our headcount further in the coming months.”

Ipswich-based Fleximize reported a 132% rise in SME lending to £40m between 2015 and 2016.

The lender hopes to double this figure in 2017 after rolling out a new secured loan product.

Companies can now borrow up to £250,000 on an unsecured basis and up to £500,000 in secured loans.

Marc Bajer, chief executive at Hadrian’s Wall Capital Ltd, which advised the fund, added: “We’ve been impressed by Fleximize’s growth over the past three years.

“It is rare to find such a focused and technology-enabled lender in the SME alternative finance sector.

“We look forward to working closely with Peter and the team, and supporting the company on the next stage of its exciting journey.”

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