Avellinia Capital and British Business Bank Partner to Boost FinTech Lending for UK SMEs
In a move to support the growth of UK FinTech lenders and asset originators, Avellinia Capital (AvCap) and the British Business Bank have announced a strategic partnership. The collaboration is part of a new initiative by the British Business Bank to support fund managers that finance early-stage FinTech lenders, a segment that is often underserved by institutional capital.
According to Adam Kelly, Managing Director and Co-Head of Funds at the British Business Bank, the partnership will enable them to co-invest alongside Avellinia Capital's fund and provide support to fast-growing FinTechs that serve UK SMEs. The first funding line under the partnership has been allocated to Triver, a FinTech lender that provides flexible working capital solutions to smaller enterprises.
Avellinia Capital, which specializes in asset-based financing and private credit strategies, sees the collaboration as a significant opportunity to close the funding gap in the sector. Matthias Dux, Founding Partner at AvCap, said, "We are pleased to partner with the British Business Bank, a recognized leader in supporting UK businesses."
Julian Schickel, Fellow Founding Partner at Avellinia Capital, added that by combining the Bank's "extensive market expertise" with Avellinia's structuring and origination strengths, the partnership is set to "expand funding solutions for UK FinTech lenders" and ultimately "help a wide range of SMEs access the capital they need to grow."
The move underscores AvCap's continued focus on providing tailored capital solutions underpinned by deep credit market expertise. The partnership between Avellinia Capital and the British Business Bank is expected to have a positive impact on the UK's FinTech sector and help small businesses access the capital they need to thrive.
The announcement comes at a time when the UK government is actively promoting the growth of its FinTech sector, with a focus on supporting innovative companies and providing them with the necessary funding to expand their operations. The partnership between Avellinia Capital and the British Business Bank is expected to play a key role in this effort, by providing much-needed capital to early-stage FinTech lenders and asset originators.
In conclusion, the strategic partnership between Avellinia Capital and the British Business Bank is a significant step towards supporting the growth of UK FinTech lenders and asset originators. By combining their expertise and resources, the two entities are set to expand funding solutions for UK FinTech lenders and ultimately help a wide range of SMEs access the capital they need to grow and thrive.
