PremFina, the UK’s fastest-growing insurance premium finance provider, has expanded its junior capital facility with Waterfall Asset Management to £100m, upsizing and extending the arrangement to fuel its next phase of growth.
The enlarged facility adds long-term capacity to PremFina’s balance sheet as the business continues to scale, having more than doubled its loan book over the past year.
Founded in 2015, PremFina works with more than 200 broker partners across the UK and holds a Trustpilot rating of 4.6, classed as “Excellent”. The company aims to make insurance premiums more accessible, affordable, and flexible, and is led by a senior management team with deep expertise in the sector.
PremFina chief executive officer Sharon Bishop said, “This extension of our partnership with Waterfall is a strong endorsement of PremFina’s platform and track record. The transaction enhances our funding efficiency and provides increased flexibility as we continue to scale. We value Waterfall’s partnership and long-term support as we build towards our next phase of growth.”
Waterfall Asset Management UK director Krishin Uttamchandani said, “We are pleased to increase and extend our support for PremFina. The business continues to demonstrate robust performance, disciplined execution and, what we believe, is a differentiated proposition within the insurance premium finance market. This amendment reflects our confidence in the platform and our alignment with PremFina’s long-term strategy.”
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