Goldman Sachs Asset Management and Citi have issued £136m in debt funding to SME lending firm Fleximize.
Launched in 2014, Fleximize offers loans up to £500,000 to SME businesses without early repayment surcharges. To date it has distributed more than £300m to UK SMEs.
The fintech’s latest capital from Goldman Sachs follows an earlier facility by the investment bank.
“We believe that Fleximize offers a flexible and transparent product to UK SMEs in a market segment that is under-served by traditional lenders,” said Pankaj Soni, MD of private credit at Goldman Sachs Asset Management.
The company’s securitised facility is for paying off prior debt, adding to its lending books and general growth.
Suffolk-based Fleximize has recently increased its team, with the addition of 18 new staff in various departments.
Peter Tuvey, CEO and co-founder of Fleximize, said: “We are thrilled to secure this new financing, which is significant for the future strength and potential of Fleximize,”
“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.”
Hadrian’s Wall Investments Limited previously gave the lender £16.3m in debt funding back in 2017.