THE LONG-AWAITED rebrand of peer-to-peer business lender Funding Knight has been completed.
The platform name has been changed to Sancus Funding with GLI Finance (GLI) transferring its holdings in the group to its Sancus BMS subsidiary.
The move had already been flagged by GLI, as part of a wider strategic review last October. It has already rebranded P2P lender Platform Black as Sancus Finance.
Alongside the change in branding, Funding Knight is being “realigned” towards asset-backed lending, particularly bridging and development finance.
“Our vision and focus for the Sancus BMS Group will continue, as a leading player in the rapidly growing alternative finance sector specialising in meeting the needs of small-medium sized businesses and entrepreneurs,” Andy Whelan, group chief executive of Sancus BMS Group, said.
“We are confident that by aligning Funding Knight alongside our other group companies, especially Sancus Finance, the business will be positioned to drive significant growth and enhance our service to our funders and clients.”
FundingKnight was launched in 2011 and was bought out of administration by GLI in 2016.
It received full authorisation from the Financial Conduct Authority last July.
“This is really positive news for the business and is one of many changes being made to move the business forward,” said Dan Walker, who became managing director of Funding Knight at the start of this year.
“Bringing the business under the Sancus umbrella, we can provide our clients and funders with a broader offering. With access to greater investment from the group, the business now has increased capability to service the growing demand for property finance from UK, offshore and Irish businesses looking for flexible and competitive financing solutions.”