Platform Black rebrand

  • Platform Black, one of the first names to emerge from the peer-to-peer finance revolution, is changing its name to Sancus Finance with effect from Monday (16 Jan 17).

    In a letter to customers and introducers, Managing director, Caroline Langron, says that the move comes as part of the strategic review announced last May by owners, GLI Finance, to simplify GLI's structure.

    The businesses which survived the recent cull - Platform Black, Credit Junction, LiftForward, Funding Options, Funding Knight and Finexkap - are now grouped together under Sancus BMS Group.

    The letter talks about access to a £50m funding line (first announced last July) to fund "the increasing demand we are experiencing from UK businesses" and hints at closer working amongst the group's businesses by promising "a more rounded solution to meet our clients' financing requirements". Funding Knight moved its operations to Basingstoke at the end of 2016 so that, amongst other things, sales and marketing resources can be shared.

    Platform Black has had a choppy ride since it was founded in 2011 and has been characterised by a series of management disputes and changes. From its initial fast start, when its rate of growth rivalled that of Market Invoice, Platform Black has experienced a sustained period of plateauing and, according to AltFi data, has financed a total of £158m of invoices to date, adding £3m last month. The rebrand is no doubt an attempt to distance itself from the issues of the past and herald a new beginning. One wonders how long it will be before the Funding Knight brand is consigned to the history books for the same reason.

    The Sancus strapline is 'straightforward financing', not a term that immediately springs to mind when looking at its own labyrinthine funding arrangements, but hopefully a statement of intent for the future.

Related articles

  • Read More

    Consumer debt rises while businesses save

    Soaring levels of consumer debt are evidently causing the Bank of England, the Government and others in authority some sleepless nights. According to a recent report in The Guardian, the number of...

  • Read More

    Liberis and Sage launch Sage Pay Business Finance

    Sage Pay has teamed up with alternative business finance provider, Liberis,to give Sage customers access to flexible financing for the first time....

  • Read More

    ArchOver receives FCA authorization

    ArchOver, one of The Marketing Eye’s longest standing clients in the alternative finance sector, has been granted full authorisation by the Financial Conduct Authority (FCA). The news represents a...

  • Read More

    Australian Budget sets scene for FinTech growth

    The latest Budget statement from ‘down under’, on May 9, reaffirmed the Australian Government’s intention to turn the continent into a global fintech centre....

  • Read More

    Insurtech Asia - the insurance sector is ripe for disruption

    The Insurance industry, which for generations has relied on long-established methods and processes (e.g. actuarial tables) to price policies and create a vast store of historic wealth for the...

  • Read More

    InsurTech needs to learn from Altfi and FinTech

    The winds of technology-induced change have been ripping through the financial service industries for quite a while now – banking and fund management being prime examples – but up until now the...

  • Read More

    FinTech as a force for good

    Kids, they say, grow up quickly and nowhere is this more true than in FinTech. Barely five years ago, the phrase wasn’t even invented. Now it is the collective noun for billion dollar enterprises,...

  • Read More

    Insurance Industry jobs could be lost to robots and AI

    Speculating on how far the robot revolution could go is nothing new – Hollywood has been producing apocalyptic films for decades showing machines ruthlessly taking over from humans as masters of...

  • Read More

    What is a bank?

    One of the recurring themes at this year's AltFi Europe event, organised by the excellent AltFi team, was a quest for the definition of a bank, or more particularly a bank of the future. Is it any...

  • Read More

    Giles Andrews' appointment marks another step on P2P’s road to maturity

    Students of the history of finance may one day look back on Giles Andrews’ appointment to the Chair of MarketInvoice (MI) as a major milestone in the evolution of the P2P sector....

Take the first step

To find out more about how we can help you grow faster, please get in touch. We'd like to hear from you.  Or try our instant marketing healthcheck, it's free!

Quick Contact

Quick contact

Close

Contact us

T 01825 765617

E hello@themarketingeye.com

Our offices

Full details of our offices in London and Uckfield more

Request a call

Close