UK FinTech Quint announces £10m financing deal
Written by Anthony Strzalek
Quint, a UK-based FinTech group operating in the consumer finance market, has secured a £10m financing deal from Manchester-based Tosca Debt Capital to fund its recapitalisation.
The introduction of a debt facility from Tosca Debt Capital to re-finance the group sees Greg Cox, Quint’s founder and CEO, increase his stake in the group to 90 per cent.
Quint, which was founded in 2009 and operates in the UK, US, Australia, Poland, China and South Africa, is the company behind consumer price comparison site MoneyGuru.com.
The firm also owns and operates a portfolio of businesses in the consumer credit sector, including business-to-business lending marketplace and platform, Monevo.
Greg Cox, CEO of Quint Group, commented: “It’s a very exciting time for Quint and I’m very pleased that Tosca have supported us in this important stage of our growth. 2017 represents a huge opportunity for us to consolidate and grow our international presence and new businesses while continuing to innovate in our chosen markets. This will be our focus for the coming year.”
Richard Williams, partner at Tosca Debt Capital, added: “We're delighted to have been able to support the Quint team in completing this transaction. The deal will enable Quint to achieve its full potential in terms of growth and importantly ensure shareholder value is maximised over the next few years.”