Sancus passes £1bn funding mark

Thursday 07 February 2019

Allternative finance provider, Sancus BMS Group, has passed £1billion of funding.

Founded in Jersey in 2013 by Andrew Whelan and John Davey, Sancus has since grown to a staff of 50 over six jurisdictions, Jersey, Guernsey, Gibraltar, Isle of Man, UK and most recently Ireland, where the Dublin office opened in August 2018.

The business launched following the financial crisis of 2008, with a business model based on matching borrowers with co-funders whilst managing the associated risks for both and underwriting each transaction.

Andrew Whelan (CEO) said: “The £1billion funding milestone of The Group coincides with significant developments in the digitisation of the business following the launch of the FCA regulated interactive trading platform for UK funders last year.

"Alternative finance is a highly competitive space and our investment in the technology behind the business is essential for us to support our robust credit processes. We are still very much a relationship based business but our investment in technology acts as a facilitator and enables the business to scale across multiple jurisdictions.”