Sancus BMS Group has received further access to funding from its parent, GLI Finance, the Guernsey-based, AIM-listed alternative finance business.
On 11 August, GLI completed a capital injection of £7.1 million by Golf Investments, part of the Somerston Group, with the placing of 23,020,560 new ordinary shares. The placing price of 31 pence per share represented a premium of about 14 per cent.
Andrew Whelan, CEO Sancus BMS Group, said: "Somerston is now GLI’s largest shareholder at 21 per cent and we look forward to benefiting from this in the SME lending space."
A marketplace lender, Sancus delivers secured finance to small to medium enterprises and high-net-worth individuals, while managing the associated risks for borrowers and co-lenders.