Startline Motor Finance says it has carried out a new £452 million London Stock Exchange securitisation.
Satus 2026-1, when combined with the earlier Satus 2024-1, has seen the company float just over 90% of its assets under management, and represents the third listing under its Satus securitisation programme.
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Startline says it is also maintaining its ongoing funding relationship with J.P. Morgan, with the bank having agreed a five-year, £475 million funding arrangement at the end of 2024.
Paul Burgess, CEO at Startline, said: “This securitisation attracted a broad and diverse pool of high-quality international investors including a large proportion of repeat investors, which is a testament to the quality of business that the team here in Glasgow is writing.
“We’re currently gearing up for a new phase of growth and this new funding will help us make more efficient use of our capital.
“There’s been substantial investment in our infrastructure over the last year or so, including a new origination platform that will enable significant expansion in our operations without placing any strain on our processes.”
Technology helping Startline prepare for future growth
Burgess said that Startline currently handed around 300,000 proposals per month, but added that new technology had created a major increase in capacity.
He said: “We’ve adopted the latest technology stacks, credit bureau data and system integration functionality, designed to futureproof the system for years to come. It means that, as we grow, we’ll be able to process more business, more quickly.
“For partners such as dealers and other introducers, we can deliver more and better lending decisions, whether automated in seconds or through our highly developed, tailored manual process.”
Startline is said to work with around half of the UK’s top 50 franchised motor dealers by turnover, as well as 70% of the top 50 independent dealers, accounting for around 2% of the total UK motor finance market.