Today we announce another significant step in Fluro’s journey; a £200m funding partnership with BNP Paribas that enables Fluro to serve more customers by growing our balance sheet. In simple, human language, this means we now have more money to lend to people looking to take out a personal loan. This is a hugely exciting moment for Fluro, and one that recognises our strength of embedded lending proposition.
Our goal is to build consumer-first products and experiences in an industry which is often unnecessarily complex and out of date. Being able to reach a more substantial portion of the British public means we can have a larger positive impact, faster.
In the words of Jonathan Kramer, our COO, ‘It allows us to provide even more customers with our fair rates and transparent services.’
BNP Paribas is a well-aligned partnership for Fluro. The bank embraces changing socio-economic relationships, as well as the way technology is facilitating a new era for finance, how consumers engage with their banks, and how they manage their money. BNP Paribas is “The bank for a changing world” which parallels our mission to drive positive change in the industry.
Simon Jones, head of securitised products at BNP Paribas said: “We are very excited to be partnering with Fluro in supporting their plans for further expansion into the UK consumer lending market. This securitisation is designed to support them on their growth trajectory and underscores the strength of their platform.”
This has been a momentous two months for Fluro, and we are fully committed to creating a better, fairer, and more transparent experience for British consumers.