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Peer2Peer Finance News | July 23, 2019

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Sancus Finance hits £200m business funding milestone

Sancus Finance hits £200m business funding milestone
Marc Shoffman

ALTERNATIVE business funding platform Sancus Finance has passed the £200m lending milestone.

The firm, which provides peer-to-peer invoice financing and supply chain finance, has helped push lending across all Sancus BMS Group brands to £700m over the past four years.

Read more: GLI Finance’s losses widen

“Sancus aims to increase the accessibility of innovative forms of finance to SMEs and entrepreneurs in a marketplace historically dominated by bank debt,” Dan Walker, managing director of Sancus Finance, said.

“The growth in the alternative finance market is also reflected in the upward trend in enquiries we have had from small- and medium-sized enterprises (SMEs) for alternative funding solutions.

““We need to encourage SMEs to invest in their growth through the provision of fast, easy and transparent funding solutions which will increase their confidence in an increasingly uncertain economy. Sancus and its funders are committed to supporting these businesses by injecting funds into the real economy.”

It comes after a rebrand of sister company Funding Knight, which was re-named as Sancus Funding.

Alongside the change in name, Funding Knight is being “realigned” towards asset-backed lending, particularly bridging and development finance.

Read moreGLI-backed Sancus BMS raises stake in Sancus Finance