0 £0.00
This item was added to your basket
Credit Strategy homepage
LinkedIn
Twitter

Dear visitor,
You are viewing 1 of your 1 free articles


We’ve invested in our content to provide more news, analysis, features, interviews and opinions across a wide range of Credit and Financial Services. Register now to access more of the trustworthy, insightful information that’s on offer.

Register now or Login

Lantern raises £15m funding facility

Debt purchaser Lantern Debt Recovery Services has raised a £15m committed senior revolving credit facility from Shawbrook Bank and Paragon Bank.

Share on LinkedInShare on TwittereCard

The funds, which have a built in £15m accordion feature which can be used to increase the senior commitment if required, will be used to support the purchase of further non-performing consumer debt portfolios.

 

Lantern has acquired and managed more 250 portfolios since 2008, representing are £1.3bn. It is backed by Copper Street Capital, an alternative investment firm with a focus on the financial services sector.

 

Denise Crossley, chief executive of Lantern said: “Securing the new funding facility is an exciting development for Lantern, and reflects the confidence our institutional partners place in us. This is a significant endorsement of the talent of our team and business as a whole, where our skills, as a niche Purchaser of customers requiring a more bespoke collections approach, are in demand.”

 

Sarah Watts, director in structured finance at Shawbrook Bank said: "We are delighted to be able to support Lantern. The specialist wholesale team at Shawbrook has a lot of experience in the debt purchase space and we’ve been able to structure a bespoke facility for the business that will be transformational as they continue to implement their growth strategy."

Share on LinkedInShare on TwittereCard
Add New Comment
You must be logged in to comment. Login or Register to access enhanced features of the website.

LATEST INDUSTRY NEWS STRAIGHT TO YOUR INBOX

Upcoming events

Car Finance Conference

Car Finance Awards

Credit Awards

Parliamentary Reception

Credit Strategy
LinkedIn page

Member of

Did you find our website useful?

Thank you for your input

Thank you for your feedback

creditstrategy.co.uk – an online news and information service for the UK’s commercial and consumer credit industry. creditstrategy.co.uk is published by Shard Financial Media Limited, registered in England & Wales as 5481132, Axe & Bottle Court, 70 Newcomen St, London, SE1 1YT. All rights reserved. Credit Strategy is committed to diversity in the workplace. @ Copyright Shard Media Group