Amplifi Capital has secured a financing facility of up to 拢100 million from NatWest to drive the expansion of its lending platform Reevo Money in the UK.
The firm has partnered with Lenvi to provide backup servicing for the private securitisation warehouse.
Amplifi is the FinTech disrupter behind the credit union introducer brand My Community Finance as well as sub-prime loan provider Reevo, its newest brand.
It aims to revolutionise access to credit products for underserved households, ensuring affordable and inclusive financial solutions.
The company聽 says its tech grants individuals with near-prime credit scores and equal opportunities to achieve their financial aspirations.
“Amplifi Capital’s technology has revolutionised the credit union sector in the UK. As a credit introducer, it has helped credit unions to issue savings and loan products to over 100,000 customers in the UK with a total loan book of over 拢420m,鈥� said Tobias Gruber, CEO.
鈥淭he facility with NatWest gives us access to financing Reevo Money at an important time to enable us to continue offering customers access to credit when traditional lenders have turned them away.”
Jennifer Wallaert, head of speciality finance of NatWest Markets Plc, added: 鈥淣atWest is delighted to support Amplifi Capital in providing affordable credit products to underserved communities in the UK.聽
鈥淭he bespoke warehouse securitisation provided by NatWest will allow Amplifi Capital to support and broaden its lending offering and ultimately serve its customers despite challenging times.鈥�