Quint raises £16.5m with Natwest for acquisitions and refinance

Greg Cox

Macclesfield-based Quint Group, an international, innovative fintech group operating in the consumer finance market, has secured a £16.5m financing deal from Natwest Bank.

The new revolving credit facility from Natwest, which was led by Mike Malone (director structured finance) and Nioami Reddington (director, corporate coverage), allows the group to refinance its existing facilities with Tosca Capital as well providing access to further funding which will allow it to drive continued growth through strategic acquisitions that are complementary to its existing businesses, as well continuing to invest in its core businesses.

Founded in 2009, Quint is one of the fastest growing fintech businesses in Europe, with operations in the UK, US, Australia, Poland, China and South Africa.

It owns and operates a portfolio of strategically-aligned financial technology businesses in the consumer credit sector and is the company behind the UK’s fastest growing credit comparison site MoneyGuru.com.

It also owns Europe’s largest personal loan marketplace and platform, Monevo.com, consumer credit reporting and financial management app Credit Angel, as well as its data business, Infinian which develops and provides niche credit, risk, and customer insight data to the financial services sector.

Quint continues to see exceptional growth both in the UK and internationally, with a particular highlight being the aggressive expansion it is seeing in the US from it’s Monevo business which has seen more than 300% growth over the last 12 months.

Anuj Bhatnagar, Quint’s chief financial officer who lead the process at Quint, said: “Securing this facility for the group is extremely positive giving us an even stronger financial foundation and increased resources to deliver our long-term goals.”

Chief executive, Greg Cox, added: “It’s a very exciting time for Quint and I’m very pleased that Natwest has supported us in this important stage of our growth.

“2019 represents a huge opportunity for us to consolidate and grow our international presence and new businesses while continuing to innovate in our core markets.

“Having the support of a top tier one bank like Natwest gives us access to the capabilities we need to deliver on the group’s vision and long term plan and demonstrates how far we have come as a business.

Richard Smart, managing director, head of regional structured finance at Natwest, said: “We are delighted to have supported Quint Group on the next stage of their exciting growth journey and we are looking forward to supporting their continued UK and international expansion.

“This is another great example of our ability and desire to support high growth, high potential SME’s achieve their strategic growth ambitions.”

Pinsent Masons Manchester office advised management as part of the deal, through a team led by Matt Morgan with Richard Oman of Addlewshaw Goddard supporting Natwest.

EY provided financial due diligence, led by Richard Harding and Paul Stott.

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