Lenvi Standby Servicing is pleased to announce its appointment as backup servicer for Reward Funding.
Reward Funding, a national alternative finance provider, has successfully secured this transformative refinancing deal, which includes a £100m private securitisation from an international bank, £150m senior debt facility from Quilam Capital, and £110m of new funding from existing investors Foresight and RMB.
This latest facility marks a significant milestone in Reward Funding's growth strategy, as they aim to increase their loan book to £500m within the next three years, while providing essential funding solutions to entrepreneurs and SMEs.
This development reinforces Reward's position as a key player in the UK's SME funding landscape.
Lenvi's appointment as backup servicer for this facility underscores our commitment to fostering growth and stability in the alternative finance sector. Our appointment also marks the sixth deal we have supported where Quilam has been an investor.
We are delighted to be appointed as the backup servicer for Reward Funding's landmark refinancing deal. Our partnership with Reward Funding reflects our shared commitment to supporting UK businesses with flexible and dependable financial solutions. We look forward to providing continued support to Reward and observing their continued success in the market.
Brad Owen, Senior Business Development Manager, Capital Markets
Successfully raising this level of institutional funding is a testament to the business we have built at Reward. We look forward to working with our new and existing funding partners, including Lenvi as our backup servicer, to provide further support to UK SMEs.
David Harrop, Group Finance Director – Reward
Having worked with Lenvi’s Standby Servicing team on a number of deals previously, we’re very happy to see them appointed as back-up servicer on this most recent deal. Whilst the invocation of a standby servicer will hopefully not be needed, Lenvi’s understanding of the market and practical solutions to scoping this service make establishing this service incredibly efficient.
Jordan Blakesley, Managing Director - Quilam
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