5th Nov 2018 12:08
LONDON (Alliance News) - GLI Finance Ltd on Monday said its investee The Credit Junction has secured USD23 million investment from US private equity firm Century Equity Partners.
The Credit Junction provides capital solutions to businesses across the US, GLI Finance said, and combines traditional credit metrics with data intelligence as part of its underwriting and loan monitoring processes.
Investment firm GLI Finance holds a seat on the board of The Credit Junction and continues to support it with strategic developments.
"We welcome the announcement by The Credit Junction confirming their new growth equity investment from Century Equity Partners," said GLI Ginance Chief Executive Andy Whelan.
"This facility will enable The Credit Junction to leverage their excellent technology and significantly expand their lending. Our focus remains on maximising the value of our FinTech portfolio and we will continue to work closely with all of our platforms to achieve that aim," added Whelan.
GLI Finance shares were trading 0.9% higher on Monday at 8.58 pence each.
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