A new £452 million London Stock Exchange securitisation has been carried out by Glasgow-based Startline Motor Finance.
Founded in 2013, Startline has 85,000 customers, £652 million of assets under management and employs 240 people at its Skypark head offices in Glasgow.
Specialising in “near prime” motor finance, Startline works with around half of the UK’s top 50 franchise motor dealers by turnover as well as 70% of the top 50 independent car retailers, accounting for around 2% of the total UK motor finance market.
“Called Satus 2026-1, it has seen the company float just over 90% of its assets under management when combined with the earlier Satus 2024-1, and represents the third listing under the company’s Satus securitisation programme,” said Startline.
“Startline is also maintaining its ongoing funding relationship with global bank J.P. Morgan, which agreed a five-year, £475 million funding arrangement at the end of 2024.”
Startline Motor Finance CEO Paul Burgess 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.”
Paul Burgess said Startline currently handles around 300,000 proposals every month but the new technology had added massively to that capacity.
“We’ve adopted the latest technology stacks, credit bureau data and system integration functionality, designed to futureproof the system for years to come,” said Burgess.
“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.”