Source - RNS
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

+44 (0)1534 708900

Andy Whelan

 

 

 

Nominated Adviser and Broker

 

Liberum Capital Limited

+44 (0)207 100 2000

Steve Pearce

 

Chris Clarke

 

Jonathan Wilkes-Green

 

 

 

Public Relations Adviser

 

Instinctif Partners

+44 (0)207 457 2020

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.


This information is provided by RNS
The company news service from the London Stock Exchange
 
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