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UK based financial services group 1st Stop Group has raised £120m in debt financing from Citi Ventures. The 1st Stop Group Limited offers a range of financial services to the retail marketplace under its various subsidiary companies. Its product range includes personal loans, secured loans, and hire purchase (for vehicle purchase).
Citi will provide a new £75m securitisation facility with balance sheet funding coming from existing funders. The financing will allow the business to increase lending to consumers across its secured lending, car finance and personal loan businesses. Pollen Street first backed the business, which is led by chief executive Mark Robins, in 2016. The deal was one of the first two transactions from Pollen Street’s third fund. The firm, a spin-out from RBS, is led by Lindsey McMurray.
https://realdeals.eu.com/news/2017/08/02/pollen-streets-1st-stop-120m-funding/
