Hadrian’s Wall Secured Investments Limited
Christopher Jones, in Wright Hassall's Banking & Finance team, has advised Hadrian’s Wall Secured Investments Limited (HWSIL), a specialised investment fund, on its £16.3m financing facility for Fleximize, the UK’s first revenue-based finance provider.
“It is rare to find such a focused and technology-enabled lender in the SME alternative finance sector. We were impressed with the commitment to transparency with its customers.” Marc Bajer, Chief ExecutiveHadrian’s Wall Capital
The initial round of funding will allow Fleximize to substantially increase its lending capacity, and propel it towards its goal of lending over £100 million to SMEs by 2019. It will also help the company further develop and diversify its product offering, and continue to deliver its mission of first-class customer service by advancing its proprietary technology platform with the introduction of dedicated areas for brokers and direct clients.
Between 2015 and 2016, Fleximize grew its lending to SMEs by 132% to £40 million, a figure that the company is looking to double in 2017 as it rolls out its new secured loan product. Companies can now borrow up to £250,000 from Fleximize on an unsecured basis, and up to £500,000 on a secured basis.
Peter Tuvey, co-founder and managing partner of Fleximize, said: “The chancellor described SMEs as the lifeblood of the UK economy in his spring budget, and we witness that every single day here at Fleximize. From Shelley Dickinson, owner of the award-winning Shelley’s Pie and Mash Shop, to Polly Thompson, managing director of bespoke bridesmaid dress retailer, Nabbd, our clients are representative of the hands-on, hardworking and dedicated entrepreneurs that are driving the UK forward.”