Update on FinTech platform

RNS Number : 4735K

GLI Finance Limited

10 April 2018

 

10 April 2018

 GLI Finance Limited

("the Group" or "GLI")

Update on FinTech platform

The Board of Directors of GLI has noted the announcement by The Credit Junction ("TCJ"), one of the FinTech platforms in which GLI is invested, that it has recently secured a $150 million credit facility from MidCap Financial, a leading capital provider to the middle market specialty finance industry in the United States.  GLI first invested in TCJ in September 2014 and following subsequent investments, it is now one of the larger holdings within GLI's FinTech portfolio.  This transaction helps underpin the valuation of GLI's investment in TCJ. GLI hold a seat on the Board of TCJ and continue to support the company and management with strategic developments.  

TCJ provides capital solutions to businesses across the United States and combines traditional credit metrics with data intelligence as part of its underwriting and loan monitoring processes. 

Andy Whelan, CEO of GLI commented:

"We welcome the announcement by TCJ confirming their new credit facility from MidCap Financial. This facility will enable TCJ to expand its loan book and accelerate its growth.  As I said in the recent Annual Results announcement our focus is on maximising the value of our FinTech portfolio and we will continue to work closely with all of our platforms to achieve that aim."

For further information:

GLI Finance	[phone]
Andy Whelan
Nominated Adviser and Broker
Liberum Capital Limited	[phone]
Steve Pearce
Chris Clarke
Jonathan Wilkes-Green
Public Relations Adviser
Instinctif Partners	[phone]
Tim Linacre
Ambrose Fullalove

About GLI Finance

GLI is an AIM listed innovative alternative finance business, which owns a niche SME lender, Sancus BMS that operates in 6 jurisdictions -  UK, Ireland, Jersey, Guernsey, Gibraltar and the Isle of Man, and a portfolio of emerging FinTech SME-focussed lending platforms that are located on 3 continents.

 

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