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RentSmart bolstered by £10m funding deal

RentSmart, a provider of consumer and SME lease finance, has said it will expand its lending after securing a £10m funding deal with Santander Corporate and Commercial. Manchester-based RentSmart offers products that bridge the gap between a credit card and a bank loan and has been behind Dixon's Upgrade Anytime and SmartPlan service. Chief executive Fernando de Vicente said: 'We have a strong desire to significantly grow in the UK as well as diversify distribution channels and introduce new products and believe this is best met by increasing funding capacity – and I'm delighted with the support and understanding that Santander has provided.' David Chell, Relationship Director, Santander Corporate and Commercial, said: 'We have been very impressed by the business plan for RentSmart in the UK, and have been keen to work with Fernando and the management team in helping the firm expand in the UK. We have taken the time to understand the business and develop a suitable funding package that we are confident will help it meet its growth aspirations.'

 

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