PayBreak Limited and Shawbrook Bank, announce £12.5M wholesale funding arrangement19 January 2018
PayBreak Limited, through its partnership with Shawbrook Bank Limited, has expanded its lending capacity by a further £12.5M to accelerate the growth of its lending through its innovative retail point of sale platform. This follows a £24M equity funding round concluded in March this year, which was well supported by its existing shareholders, and saw the entry of new investors.
With its highly configurable lending platform, PayBreak delivers real-time lending decisions to retailers at the point of sale with solutions that match the needs of retailers and their customers. Using advanced analytics, PayBreak further tailors lending to fit the retailers’ needs and, as a responsible lender, ensures its lending is suitable for the borrowers’ circumstances.
“We have experienced phenomenal growth over the last 12 months as retailers have turned to PayBreak for finance solutions that fit the needs of their customers”, said Andy Moore, CEO, PayBreak. “The new capacity and structural flexibility delivered by Shawbrook Bank lets us extend our reach easily, enabling us to scale more quickly”.
Lucinda Yeo, Director, Structured Finance at Shawbrook Bank said: “We recognise the unique value proposition that PayBreak’s lending platform offers and are delighted to work alongside them through this next expansion phase. PayBreak is able to continue its exceptional growth journey with the certainty of the new wholesale funding line being in place.”
This is an excellent example of how, through our wholesale finance team, we can offer access to wholesale funding through both Block and Structured Finance facilities to specialist lenders across the UK. We work with a variety of clients from early-stage lenders receiving their first senior funding lines through to established regional specialist lending businesses.”