Post by kayfundingknight on Jul 14, 2017 8:41:17 GMT
The next stage in our development has been achieved, please see proposed press announcement:
FundingKnight has been granted full Authorisation from the Financial Conduct Authority (FCA). The
business has been operating under interim permissions since 2014, when the FCA commenced the
process of regulating the peer-to-peer industry.
Gaining this authorisation is an important milestone for GLI’s ambitious plans. They embarked on a series
of strategic initiatives last year, which saw them restructure and organize their portfolio of businesses.
The Sancus BMS Group of companies was formed to focus on delivering fast and flexible financing
solutions to clients whilst ensuring robust and diligent risk management to both funders and clients.
As Andrew Whelan, CEO of GLI Finance explains: “We are committed to providing funding to the
underserved small and medium sized business population and their owners. It is our intention to move
FundingKnight into the Sancus BMS Group of companies operating alongside Sancus Finance, our
specialist working capital finance provider. We will also change the name of FundingKnight to Sancus
Loans to incorporate it into the wider Group.”
Sancus BMS has seen consistent growth, having provided more than £570m of funding to SMEs and
entrepreneurs and with authorisation gained in the key UK market, the business is now focused on
increasing this over the coming years”.
As Caroline Langron, managing director of Sancus in the UK explains, “We are delighted to have
secured FCA Authorisation which demonstrates that we employ robust procedures and processes to
ensure we protect both our funders and clients. The SME sector requires certainty of funding at what is
a volatile time in the economy. It is essential that funders can place their cash safely with Sancus,
producing attractive returns that cannot be achieved in the current low-interest bank environment”.
The addition of property finance expands Sancus’ portfolio of financial solutions for both funders and
clients. The company currently offers supply chain finance and invoice funding which ensure faster
payment to a business’ suppliers, a specialist financial solution for Educational Institutions and a Vendor
Partner Programme to support the purchasing capability of business customers.
Caroline concludes: “It’s an exciting time for both businesses as we work more closely to satisfy
our clients’ funding requirements with plans to strengthen our offering to both clients and funders.
FCA regulation benefits all parties in the alternative finance sector, including businesses and
consumers, ensuring financial markets work fairly and effectively, encouraging a growing
economy.”
GLI Finance delight as FundingKnight granted full FCA Authorisation
A milestone in the Group’s ambitious growth plans
GLI Finance (GLI) have today announced that their specialist peer to peer/marketplace lender –FundingKnight has been granted full Authorisation from the Financial Conduct Authority (FCA). The
business has been operating under interim permissions since 2014, when the FCA commenced the
process of regulating the peer-to-peer industry.
Gaining this authorisation is an important milestone for GLI’s ambitious plans. They embarked on a series
of strategic initiatives last year, which saw them restructure and organize their portfolio of businesses.
The Sancus BMS Group of companies was formed to focus on delivering fast and flexible financing
solutions to clients whilst ensuring robust and diligent risk management to both funders and clients.
As Andrew Whelan, CEO of GLI Finance explains: “We are committed to providing funding to the
underserved small and medium sized business population and their owners. It is our intention to move
FundingKnight into the Sancus BMS Group of companies operating alongside Sancus Finance, our
specialist working capital finance provider. We will also change the name of FundingKnight to Sancus
Loans to incorporate it into the wider Group.”
Sancus BMS has seen consistent growth, having provided more than £570m of funding to SMEs and
entrepreneurs and with authorisation gained in the key UK market, the business is now focused on
increasing this over the coming years”.
As Caroline Langron, managing director of Sancus in the UK explains, “We are delighted to have
secured FCA Authorisation which demonstrates that we employ robust procedures and processes to
ensure we protect both our funders and clients. The SME sector requires certainty of funding at what is
a volatile time in the economy. It is essential that funders can place their cash safely with Sancus,
producing attractive returns that cannot be achieved in the current low-interest bank environment”.
The addition of property finance expands Sancus’ portfolio of financial solutions for both funders and
clients. The company currently offers supply chain finance and invoice funding which ensure faster
payment to a business’ suppliers, a specialist financial solution for Educational Institutions and a Vendor
Partner Programme to support the purchasing capability of business customers.
Caroline concludes: “It’s an exciting time for both businesses as we work more closely to satisfy
our clients’ funding requirements with plans to strengthen our offering to both clients and funders.
FCA regulation benefits all parties in the alternative finance sector, including businesses and
consumers, ensuring financial markets work fairly and effectively, encouraging a growing
economy.”