Fintech company, Quint Group, announced on Wednesday it secured £10m financing deal from Manchester based Tosca Debt Capital to fund its recapitalization.
The company, which was founded in 2009, is behind the UK-based growing consumer price comparison site, MoneyGuru. Quint also owns and operates a portfolio of mutually beneficial and strategically aligned financial technology businesses in the consumer credit sector. Greg Cox, CEO of Quint Group, stated:
“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. This is another example of Tosca Debt Capital funding a high-quality business in the North of England and supports our ethos of being relationship-focussed and regionally committed.”
Quint added it continues to experience exceptional growth and is seeing strong traction in its data services business and new US and Polish markets. Profits in 2017-2018 are expected to approach £10 million.