Strategic review results in new name and ownership to consolidate focus and capabilities
Funding Knight Limited the specialist peer to peer/marketplace lender has today announced it will be changing name to Sancus Funding Limited with immediate effect. The move comes as part of a strategic review of operations by Funding Knight’s owners, GLI Finance Limited (GLIF) who have also announced that it has transferred its holding in the business to the Sancus BMS Group Limited.
The move is designed to simplify the Group’s structure and bring together a select number of niche alternative finance businesses to present a stronger funding proposition to SMEs and entrepreneurs. The new name and ownership follows Funding Knight’s successful achievement of Full Authorisation from the Financial Conduct Authority (FCA) in July last year.
Dan Walker, Managing Director of Funding Knight said: “This is really positive news for the business and is one of many changes being made to move the business forward. By bringing the business under the Sancus umbrella, we can provide our clients and funders with a broader offering. With access to greater investment from the Group, the business now has increased the capability to service the growing demand for property finance from UK, offshore and Irish businesses looking for flexible and competitive financing solutions”.
With the inclusion of Funding Knight, the Sancus BMS Group can now add directly sourced UK bridging and development finance to their extensive portfolio which includes a range of short, medium and long-term finance via invoice trading, supply chain finance, education finance, asset backed loans and secured cash flow funding. The Group’s geographical reach now encompasses the UK, Ireland, Jersey, Guernsey, Gibraltar and the Isle of Man*. Since inception, Sancus BMS Group has provided cumulative funding in excess of £700m to their clients.
Andy Whelan, Sancus BMS Group CEO added, “Our vision and focus for the Sancus BMS Group will continue, as a leading player in the rapidly growing alternative finance sector specialising in meeting the needs of small-medium sized businesses and entrepreneurs. We are confident that by aligning Funding Knight alongside our other Group companies, especially Sancus Finance, the business will be positioned to drive significant growth and enhance our service to our funders and clients.”