Post by captainconfident on Jul 10, 2017 15:43:50 GMT
I am sure that my favourite platform FK will not mind me posting their business update here. Oh all you of little faith.
Business Update
Dear (Captain Confident)
I am aware that we have not communicated with you in a while and wanted to provide you with an update regarding Funding Knight. As you will have noticed, we have not added any new loans to the platform in recent months and I wanted to explain why that is and what our plan is moving forward to provide you with potential valuable opportunities to deploy funds.
Shortly after the Funding Knight Platform was launched into the market in 2013, the Financial Conduct Authority (FCA) announced their intention to regulate the Peer to Peer industry. Since April 2014 we like other platforms in the market have been operating under interim permissions whilst beginning the process of working towards full Authorisation. We are nearing completion of this lengthy process and are expecting to be granted full authorisation in the very near future.
Whilst progressing our regulatory application, we have been originating investment opportunities for you to take advantage of as we focus on driving our ambitious plans for the Platform. However, running in parallel to this, our parent company GLI Finance, an AIM listed business, embarked on a strategic review of their Group of companies in 2016 which resulted in a reorganisation of the business with the formation of a new group of companies – Sancus BMS Group - focussing on the provision of working capital or property finance.
As part of this strategic review, we are delighted that GLI Finance have confirmed their commitment to Funding Knight and are intent on supporting the business, our platform and our investors moving forward. This includes continuing to service the existing loans in the portfolio whilst setting a new strategic direction for the business. We continue to manage your funds in line with the FCA rulebook which includes keeping all cash in ring fenced and segregated trust accounts.
So, what has been happening and what are we now focussed on?
A management restructure has seen my appointment as managing director of Funding Knight alongside my existing responsibilities as managing director of Sancus Finance – a specialist working capital funder. We now operate a joint leadership team across the two businesses with key positions in Sales, Credit, Operations and Finance.
Our focus remains on completing a successful application for FCA Authorisation for Funding Knight which is due imminently.
We will then work towards aligning Funding Knight with the Sancus BMS Group which will involve a brand name change.
We will consider how best to refocus the business which may mean some changes to the size of deals we look at and how they are funded.
We are working on making improvements to the platform based on feedback to improve your experience of investing on the platform and being fully informed of your transactions.
It’s an exciting time and we thank you for your continued support for Funding Knight as we reposition the business to move forward. Being part of the Sancus BMS Group will enable us to provide a wider range of investment opportunities for asset backed funding. Should you wish to find out more about the opportunities the Group can offer you then please register on the website www.sancus.com
I hope you have found this update informative but should you have any questions then please do not hesitate to contact myself or Kay Carson, our investor manager, on 0330 100 36 36.
Regards
Caroline Langron
Managing Director
Funding Knight Ltd
Business Update
Dear (Captain Confident)
I am aware that we have not communicated with you in a while and wanted to provide you with an update regarding Funding Knight. As you will have noticed, we have not added any new loans to the platform in recent months and I wanted to explain why that is and what our plan is moving forward to provide you with potential valuable opportunities to deploy funds.
Shortly after the Funding Knight Platform was launched into the market in 2013, the Financial Conduct Authority (FCA) announced their intention to regulate the Peer to Peer industry. Since April 2014 we like other platforms in the market have been operating under interim permissions whilst beginning the process of working towards full Authorisation. We are nearing completion of this lengthy process and are expecting to be granted full authorisation in the very near future.
Whilst progressing our regulatory application, we have been originating investment opportunities for you to take advantage of as we focus on driving our ambitious plans for the Platform. However, running in parallel to this, our parent company GLI Finance, an AIM listed business, embarked on a strategic review of their Group of companies in 2016 which resulted in a reorganisation of the business with the formation of a new group of companies – Sancus BMS Group - focussing on the provision of working capital or property finance.
As part of this strategic review, we are delighted that GLI Finance have confirmed their commitment to Funding Knight and are intent on supporting the business, our platform and our investors moving forward. This includes continuing to service the existing loans in the portfolio whilst setting a new strategic direction for the business. We continue to manage your funds in line with the FCA rulebook which includes keeping all cash in ring fenced and segregated trust accounts.
So, what has been happening and what are we now focussed on?
A management restructure has seen my appointment as managing director of Funding Knight alongside my existing responsibilities as managing director of Sancus Finance – a specialist working capital funder. We now operate a joint leadership team across the two businesses with key positions in Sales, Credit, Operations and Finance.
Our focus remains on completing a successful application for FCA Authorisation for Funding Knight which is due imminently.
We will then work towards aligning Funding Knight with the Sancus BMS Group which will involve a brand name change.
We will consider how best to refocus the business which may mean some changes to the size of deals we look at and how they are funded.
We are working on making improvements to the platform based on feedback to improve your experience of investing on the platform and being fully informed of your transactions.
It’s an exciting time and we thank you for your continued support for Funding Knight as we reposition the business to move forward. Being part of the Sancus BMS Group will enable us to provide a wider range of investment opportunities for asset backed funding. Should you wish to find out more about the opportunities the Group can offer you then please register on the website www.sancus.com
I hope you have found this update informative but should you have any questions then please do not hesitate to contact myself or Kay Carson, our investor manager, on 0330 100 36 36.
Regards
Caroline Langron
Managing Director
Funding Knight Ltd
