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Peer2Peer Finance News | July 23, 2019

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GLI Finance

P2P administrations: A timeline

May 29, 2019 |

LENDY was not the first peer-to-peer platform to go into administration, and it probably won’t be the last.

The property lender was officially handed over to administrators RSM last week, after the Financial Conduct Authority (FCA) opened an investigation into … Read More

GLI Finance share price slumps on Fintech Ventures writedown

May 28, 2019 |

GLI FINANCE has announced a platform held within its Fintech Ventures portfolio is at risk of becoming insolvent and has written off the value of this investment to zero.

The Aim-listed alternative finance group did not name the platform in … Read More

GLI Finance to revise bonus policy amid shareholder concerns

May 13, 2019 |

GLI FINANCE (GLI) has pledged to reform the way it pays bonuses following shareholder opposition to executive pay packages.

The alternative finance investor had revealed in its 2018 annual report that its executives were collectively paid £784,250 in bonuses last … Read More

GLI bosses received over £750k in bonuses despite 2018 loss

April 17, 2019 |

GLI FINANCE executives were collectively paid £784,250 in bonuses last year, despite the company sliding into losses.

The 2018 annual report released by the Aim-listed alternative finance group on Wednesday showed that chief executive Andrew Whelan received £370,800 in bonuses, … Read More

GLI Finance falls into the red as it takes £20m hit on Fintech Ventures arm

March 25, 2019 |

GLI FINANCE fell into the red last year, dragged down by a “disappointing” further writedown on its Fintech Ventures portfolio of almost £20m.

The Aim-listed alternative finance group on Monday reported operating losses of £2.3m for the year ended 31 … Read More

GLI Finance to close P2P supply finance platform

February 8, 2019 |

GLI FINANCE has announced it will close its loss-making peer-to-peer supply chain finance platform, blaming worsening market conditions and a £1.1m hit from an insolvent borrower.

The Aim-listed alternative finance group said on Friday that Sancus Finance is set to … Read More

Sancus fuels increase in GLI Finance operating profits

September 24, 2018 |

GLI FINANCE swung to a net operating profit of £1.1m in the first half of the year, from a loss of £0.5m a year ago, driven by its Sancus BMS alternative lending division.

Sancus BMS, which comprises the peer-to-peer lenders … Read More

Property underpins Ireland’s P2P sector

August 13, 2018 |

IRELAND’S peer-to-peer sector is flourishing largely thanks to the country’s demand for property development.

Property lenders such as Initiative Ireland and GLI Finance are well-established in the Republic, which also boasts business lenders like Flender, Linked Finance and GRID Finance.

Read More

Sancus hires ex-Handelsbanken executive for credit role

August 2, 2018 |

SANCUS Finance has appointed a former Handelsbanken executive to its credit team, as the company expands its business across the UK and Ireland.

Neil Harrington (pictured) has joined the alternative lending firm as senior credit manager, from his previous role … Read More

Sancus BMS seeks £15m funding from investors

July 20, 2018 |

SANCUS BMS Group, the owner of the Sancus Finance and Sancus Funding peer-to-peer platforms, is seeking to raise up to £15m from investors.

The alternative finance provider, which is owned by Aim-listed GLI Finance, has launched its fourth special purpose … Read More