GLI Finance Limited
("GLI Finance" or the "Company")

FundingKnight granted full FCA authorisation

GLI Finance is pleased to announce that its specialist peer to peer/marketplace lender, FundingKnight, has been granted full authorisation from the Financial Conduct Authority (FCA). FundingKnight has been operating under interim permissions since 2014, when the FCA commenced the process of regulating the peer-to-peer industry. This is an important milestone for the business and demonstrates its commitment to maintaining the expected standards of regulatory compliance designed to protect both funders and clients.

It is also the Company's intention to move FundingKnight into the Sancus BMS Group of companies (also known as Pillar 1) operating alongside Sancus Finance, its specialist working capital finance provider. This structure will expand the Group's alternative finance offering into the UK asset based lending market and allow the business to take advantage of a broader range of commercial opportunities. In anticipation of this approval, FundingKnight has increased the number of sales people focusing on the UK market across its existing geographical footprint.

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About GLI Finance

GLI is an AIM listed innovative alternative finance business, which owns a niche SME lender, Sancus BMS that operates in 6 jurisdictions - UK, Ireland, Jersey, Guernsey, Gibraltar and the Isle of Man, and a portfolio of emerging FinTech SME-focussed lending platforms that are located on 3 continents. 

About FundingKnight

FundingKnight is a marketplace lender, delivering financing to small and medium-sized companies (SMEs) across the UK. FundingKnight acts as match-maker between businesses looking for finance and institutions and high-net-worth individuals looking for investment opportunities. The company offers loans from £250k with a range of payment options and is used for a variety of business funding purposes including property purchases and business refinancing.