Amplifi Capital bags £22.5m to drive growth of Reevo Money
Summary
Amplifi Capital (U.K.) Limited has successfully secured \xa322.5m in mezzanine financing from M&G Investments.This significant investment marks a pivotal moment for Amplifi Capital, enabling the rapid expansion of Reevo Money, its latest brand and proprietary lending platform.The tranche will strengthen Amplifi Capitals mission to offer affordable lending to as many customers as possible, particularly those with near-prime credit scores, supporting them in achieving their financial goals.Reevo Money, as Amplifi Capitals newest brand, is positioned to reshape the market by combining cutting-edge technology with a customer-centric approach.Tobias Gruber, CEO of Amplifi Capital (U.K.) Limited said, Amplifi Capital are delighted that M&G are joining NatWest in supporting Reevo Money by providing \xa322.5m in mezzanine funding to complement the \xa3100m NatWest facility. This gives us access to financing Reevo Money at an important time to enable us to continue offering customers access to credit when traditional lenders have turned them away.Vincent Charles-Gervais, Structured Credit portfolio manager, M&G Investments, said, M&G is pleased to be supporting Amplifi Capitals mission to provide affordable credit to underserved communities in the UK. The mezzanine funding will allow Amplifi Capital to support and broaden its lending offered through Reevo Money.Keep up with all the latest FinTech news here
Funding
Review available funding amount, funding date, investors, and linked company information related to Amplifi Capital bags £22.5m to drive growth of Reevo Money in the interactive ISVWorld profile.