The聽FinTech firm behind price comparison site MoneyGuru.com has secured a 拢10m financing deal with Manchester鈥檚 Tosca Debt Capital.
Quint Group, also based in the North West, will use the eight-figure boost to fund its recapitalisation.
Established in 2009, it owns a portfolio of consumer聽credit business, including lending platform Monevo, Monevo Data Services and financial management service Credit Angel.
The firm also has operations in the US, China, Australia, South Africa and Poland.
Quint CEO and founder Greg Cox, who has now increased his stake in the group to 90 per cent, said: 鈥淚t鈥檚 a very exciting time for Quint and I鈥檓 very pleased that Tosca have supported us in this important stage of our growth.
鈥�2017 represents a huge opportunity for us to consolidate and grow our international presence and new businesses while continuing to innovate in our chosen markets.
鈥淭his will be our focus for the coming year.鈥�
Quint Group was supported by professional services firms PwC and EY with commercial and financial due diligence. Cavendish Corporate Finance advised on the deal.
Tosca Debt Capital partner Richard Williams said: 鈥淲e鈥檙e delighted to have been able to support the Quint team in completing this transaction.
鈥淭he deal will enable Quint to achieve its full potential in terms of growth and importantly ensure shareholder value is maximised over the next few years.
鈥淭his is another example of Tosca Debt Capital funding a high-quality business in the North of England and supports our ethos of being relationship-focussed and regionally committed.鈥�
For the 2017/18 year, Quint has forecast profits of around 拢10m and expects to appoint an investing partner, who will provide funding for both organic and acquisitive growth.