Alternative Finance: Is this AltFi’s time to shine?

alternative finance webinar

This webinar event took place on Tuesday 8 September at 1pm-2pm BST (London, UK time).

Alex-Fenton

Speaker:
Alex Fenton, Group Chief Executive, Growth Lending

In the latest webinar from our Centre for Digital Banking and Finance, we were joined by Alex Fenton, Group Chief Executive of Growth Lending, a platform made up of three brands: BOOST&Co, GapCap and KX Media Capital, which has lent more than £1bn to more than 500 SMEs and counting.

We asked Alex his views on the prospects for the AltFi sector and explored Growth Lending’s experience of working with the Coronavirus Business Interruption Loans Scheme (CBILS). We also discussed whether the UK Government has done enough to support small businesses through the disruption and whether the AltFi sector’s vital role in doing so might be the catalyst for shifting the movement from the ‘alternative’ to the mainstream.

In 2014, after a brief stint in private equity, Alex founded GapCap at 25 years old. GapCap provided a fast, and flexible approach to providing cashflow facilities to UK SMEs. Over 5 years, GapCap funded over £350m of invoices and helped over 1000 businesses with their cashflow.

In December 2019, GapCap were acquired into ‘Growth Lending’, a group of businesses brought together to provide specialist funding services globally. Alex became the Group Chief Executive and has a mandate to deliver £1bn of funding to growing global businesses in the next 12 months.