Fintex Capital teams up with specialist motor finance lender Go Car Credit

Alternative credit investor Fintex Capital has agreed a funding line with Go Car Credit to support £4m of monthly originations.

The partnership will help grow the specialist motor finance lender’s loan book that stands at £60m today, Fintex Capital said.

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Since 2016, Fintex Capital has provided loans of $400m (£313m) across the UK, Continental Europe and the US.

This deal is one of multiple facilities that the fintech investment firm has recently closed, as it continues to expand its lending business with opportunities across the capital stack.

“We are delighted to work with Fintex, who share our approach to data science and excellence, thereby increasing our capacity to grow in our target markets,” said Mark Giles, chief executive at Go Car Credit.

Founded in 2017, Go Car Credit has provided finance to over 25,000 customers, of whom one fifth renew to lower-priced products following successful conclusion of their first agreements.

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“Fintex is delighted to partner with Go Car Credit, one of the leading players in specialist motor finance,” said Robert Stafler, chief executive of Fintex Capital. “We were very impressed by the quality of their underwriting, which leverages technology to responsibly lend to all types of consumers. We look forward to supporting Go Car Credit on their growth journey.”

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