Consumer lender, Oplo, has announced the completion of its first securitisation as the business targets continued growth supporting the UK’s ‘new mainstream’ lending market.
The £225 million securitisation follows a series of investor roadshows in September.
Over the past decade, Oplo has built a strong and growing consumer lending business, offering personal, home and car finance loans to borrowers in the growing ‘new mainstream’ market.
Since its launch in 2009, Blackpool-based Oplo has lent over £800 million, with over £400 million of assets currently under management.
This first securitisation will underpin and accelerate Oplo’s ambitious growth plans as the firm aims to become the largest consumer lender of its type in the UK, leading the way in providing flexible and fair finance for the ‘new mainstream’ market.
Recent analysis by Oplo has identified up to 26 million customers from traditional prime and near prime segments in the ‘new mainstream’ consumer lending market, including up to 7 million conventionally prime customers unable to access mainstream finance from traditional lenders or
Alex Mollart, Oplo Founder and Chief Executive, said “Oplo is on a mission to become the UK’s largest lender to the UK’s growing ‘new mainstream’ market of consumers looking for a fair way to borrow and flexible and affordable credit.”
“Our first ever securitisation will play a key part in driving our ambitious growth plans over the next few years as we look to support even more hard-working consumers with new products and services.”