1:17 pm, February 4, 2021
Blue Motor Finance (Blue) has announced Cabot Square Capital has substantially increased its equity investment in the business.
The firm says the latest investment follows on from news of a new £300m financing facility with a leading international bank in December 2020, giving Blue sufficient funding to deliver beyond its 2021 plans, it said in a statement.
Speaking of the investment, Tiku Patel, CEO of Blue Motor Finance, said: ‘In these challenging times, we are delighted that Cabot is willing to further invest in our business.
‘Through the crisis, we have shown our ability to treat customers fairly, maintain good operational capability and carefully manage credit risk.
‘Cabot continues to be a great partner for Blue and we are delighted in their confidence as we grow our business for the future.’
Blue’s CFO, Stuart Williams, added: ‘This further investment clearly supports and values our approach in bringing together technology, data and analytics to build a flexible, growing and profitable business platform as we look to the longer term.’
Blue is a direct lender in the marketplace and has been ranked on the Financial Times’ 1,000 Fastest Growing Companies in Europe (FT1000) for three consecutive years, topping the list in 2019.
It was founded in 2015 and has lent more than £1.5bn over 150,000 customers.
