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Peer2Peer Finance News | August 25, 2019

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Sancus BMS Group targets £1bn of lending by 2020

Sancus BMS Group targets £1bn of lending by 2020
Marc Shoffman

SANCUS BMS Group, which owns the Sancus Finance and Sancus Funding peer-to-peer platforms, has now facilitated more than £800m of funding.

The alternative finance provider, which operates in the UK, Jersey, Guernsey, Gibraltar, Ireland and the Isle of Man, said on Friday that it is aiming to lend £1bn by the end of 2020.

Andy Whelan, chief executive of Sancus BMS Group, said the firm is looking to expand its presence in Ireland with the creation of two senior roles at its Dublin base.

Read more: Sancus BMS helps GLI Finance return to profit

“This year has seen the launch of our online reporting platform for co-funders of asset-backed loans, a new £50m funding line, the integration of Funding Knight into the Sancus Group and continued growth across the business,” Whelan said.

“We aim to supply £1bn of funding to small- and medium-sized enterprises, high-net-worth individuals and entrepreneurs by 2020 and based on the opportunities we have seen in the market place I am very confident that we will achieve this target.”

Sancus BMS Group is part of Aim-listed GLI Finance. It announced earlier this year that Sancus Finance, formerly Platform Black, and Sancus Funding, the new name for Funding Knight, will later be merged into a single Sancus UK brand.