Fleximize has secured £136 million in securitised funding for its SME lending FinTech platform.

The company’s technology aims to speed up and improve the underwriting process, allowing businesses to access the funds they need quickly and efficiently.

Existing investor Goldman Sachs Asset Management and new backer Citi provided the funding. It will be used to redeem existing debt and expand its lending operations.

“We are thrilled to secure this new financing, which is significant for the future strength and potential of Fleximize,” said Peter Tuvey, co-founder and CEO.

“We are delighted to welcome Citi as a lender in this transaction and continue our partnership with Goldman Sachs Asset Management, two renowned global financial institutions. 

“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.”

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Fleximize has increased its team size by 18 recently.

Pankaj Soni, managing director in the private credit business within Goldman Sachs Asset Management, said: “We believe that Fleximize offers a flexible and transparent product to UK SMEs in a market segment that is under-served by traditional lenders. 

“We are delighted to be supporting their growth and look forward to building on our relationship.”

Sebastian Walf, head of EMEA asset-backed securities at Citi, added: “We are delighted to provide this securitised facility to Fleximize, which will support further lending to UK SMEs. 

“Citi has extensive experience in European SME ABS, and securitisation continues to play an important role in financing this market.”

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