Challenger bank takes major stake in funding provider

Challenger bank Aldermore has acquired a 48% stake in Blackburn and York-based AFS Group, an independent funding provider. AFS is one of the largest introducers to asset and commercial finance funders in the UK. The deal, for an undisclosed sum, will allow Aldermore to strengthen its position in the business finance broker markets, from asset and invoice finance to commercial mortgages and property development. Nick Simpson, managing director of AFS said: : “AFS has enjoyed a positive working relationship with Aldermore ... For the full story register now for free or login below...
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