5 years ago

Free2 Raises £305 Million in Debt Financing for Over 55s Market

  • Free2, a London-based financial services brand for the over 55s market, has completed a fundraising round with NatWest Markets and a major European special situations fund

  • NatWest Markets has provided a £200m securitisation facility to assist the company in funding new customer loans

  • Junior debt funding of £105m is being provided by the European special situations fund which will finance both working capital and new customer loans

  • The funding will be used to support the launch of Free2’s first product by early June

  • Set up by Paul Lindsay, formerly of The eXchange, Free2 is focused on developing new and innovative products aimed specifically at the 55 and over market.

      • ProblemFinancial Services

      "Making later life lending more accessible and suitable for individuals over 55."

      Solution

      "Free2's proprietary platform automates part of the application process, uses innovative decision-based technology to ensure suitability, and identifies potentially vulnerable customers, offering an alternative option for later life lending."

      Covered on