MTF secures fintech deal

MTF Finance has announced it is purchasing Lending People, a fintech online brokerage, as part of plans to improve its digital offering and improve the lending experience to consumers across all channels.

Lending People was founded in 2012 and the technology-driven specialists aim to make it easier for people to borrow online. 

Mark Darrow, MTF Finance board chairman, says the acquisition is part of its long-term strategy to broaden its reach into new channels and markets while supporting and growing existing channels. 

“Lending People operates digitally and is a key addition to enhancing MTF Finance’s portfolio. Its technology and performance marketing platform will also help grow the core MTF Finance business,” he adds.

Chris Lamers, chief executive, explains that MTF Finance has been working on contemporary solutions to support all lending needs. 

“With more people looking online to borrow, we want to ensure that we are there for them to uphold our service standard, no matter how they engage with us,” he says. 

“Lending People offers significant potential to grow MTF Finance’s revenue and volume while offering a ready-made solution to transforming our digital product offer and technology platform.”

Lamers, pictured right with Lending People co-founder Adam Chisnall , says the deal will also allow MTF Finance to grow existing channels, “enabling customers who need to talk to a person to engage with our franchises”.

MTF Finance will purchase all shares in Lending People. These are due to transfer to the company in early February upon completion of the sales and purchase conditions.

Lending People will continue to operate as a standalone business with Chisnall in the chief executive role, reporting to Lamers.

Chisnall says his company’s simple ambition is to make lending a breeze. “MTF Finance shares this focus, and I'm excited to combine our strengths, enhance existing products and services, and catalyse innovation in new business channels,” he adds.