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Amplifi Capital's ambition to be the biggest Near-Prime lender in the UK and turn this group from under-served to brilliantly served, with innovative technological solutions that work for them.
It may not be an exaggeration to say that the U.K.’s financial system is failing those with poor credit. Currently, both individuals and businesses without access to prime credit largely fall into the arms of high-cost predatory lenders. One traditional solution for these groups have been niche community & social impact lenders such as credit unions. However, these institutions typically struggle to offer sufficient credit due to shallower pockets and out-of-date technologies that struggle to assess credit risk accurately.
Amplifi Capital is a FinTech committed to upgrading these community lenders into a network of challenger banks offering a viable alternative to high-cost lenders. To this end, it has created a platform tailored to credit union needs, driving the value of its loanbook into the hundreds of millions. At the same time, it generates leads for credit unions with its consumer-facing brand, My Community Finance.
A changing macroeconomic environment might prove challenging for lenders of all stripes including Amplifi Capital. However, the startup has provided financial products to over 100,000 customers and raised significant capital in a 2023 debt financing round. This will be used to expand its customer base, with the aim to provide credit to the UK's 20 million underserved customers.
Steph
Company Specialist at Welcome to the Jungle
Tobias Grubner
(CEO)Previously CEO of GOJOKO Marketing, an IT & services company for credit unions and other socially responsible lenders. Before that, worked in senrior positions for My Community Bank, Credit Suisse and Morgan Stanley.
Sanjeev Pottay
(Chief Commercial Officer)Previously Head of Marketing, Affiliates and Partnerships at NewDay. Before that, worked as a VP at Barclaycard in Digital Customer Acquisition. Also held senior positions at Royal Bank of Scotland.
Cheng Choo (Head of People)