Amplifi Capital has secured a financing facility of up to £100 million from NatWest to drive the expansion of its lending platform Reevo Money in the UK. This partnership will provide backup servicing for the private securitisation warehouse through Lenvi. Amplifi aims to revolutionize access to credit products for underserved households, ensuring affordable and inclusive financial solutions.
Utilizing its disruptive FinTech capabilities, Amplifi’s credit union introducer brand, My Community Finance, as well as its sub-prime loan provider brand Reevo, have already helped credit unions issue savings and loan products to over 100,000 customers in the UK. The company’s technology grants individuals with near-prime credit scores equal opportunities to achieve their financial aspirations.
According to Tobias Gruber, CEO of Amplifi Capital, NatWest’s facility will enable Reevo Money to continue offering customers access to credit at a time when traditional lenders have turned them away. Jennifer Wallaert, Head of Speciality Finance at NatWest Markets Plc, expressed delight in supporting Amplifi Capital’s efforts to provide affordable credit products to underserved communities in the UK. NatWest’s warehouse securitisation will further support and expand Amplifi Capital’s lending offering, allowing them to serve their customers despite challenging times.
