The UK鈥檚 fastest-growing insurance premium finance provider has agreed a new 拢350m private securitisation facility with support from HSBC and Waterfall Asset Management.聽
The new facility is set to provide enhanced funding efficiency and long-term support for PremFina鈥檚 current and future growth strategy.聽
The London-based FinTech plans to deploy the funding to support 拢1.9bn in premium finance volumes, with 拢1bn already contracted.
The company鈥檚 recent strong performance is underpinned by its proprietary technology platform and customer-first approach, achieving a market-leading client conversion rate of over 70 per cent.
鈥淭his transaction represents a significant milestone for PremFina and a strong vote of confidence in our people, our investment in technology and our portfolio,鈥� said Sharon Bishop, CEO of PremFina.
鈥淭he transaction reflects our impressive performance over the last three years. We鈥檙e proud to partner with HSBC and Waterfall – two highly respected institutions – as we scale our operations and expand access to flexible, tech-enabled premium finance solutions across the UK.鈥�
Mawgan Harris, managing director at HSBC, added: 鈥淲e are delighted to support PremFina in this transaction. The facility reflects our continued commitment to backing high-quality UK businesses with scalable and sustainable funding platforms in the specialist finance sector.鈥�
Krishin Uttamchandani, director at Waterfall Asset Management UK, continued: 鈥淲e are excited to partner with PremFina. The company鈥檚 strong underwriting processes, consistent performance, and innovative technology, position it well for continued growth.鈥�