The transaction, which was advised by SpecFin Capital, is set to significantly bolster PremFina’s funding efficiency and support its ambitious expansion plans.
The facility will enable PremFina to fund up to £1.9 billion in insurance premium finance volumes, with £1 billion of that already contracted. The new financing marks a key milestone in the company’s growth journey and reflects rising demand for flexible, tech-enabled solutions in the insurance finance space.
Sharon Bishop, CEO of PremFina, said the agreement demonstrates confidence in the company’s strategy and technological capabilities. “This transaction represents a significant milestone for PremFina and a strong vote of confidence in our people, our investment in technology and our portfolio,” she said. “The transaction reflects our impressive performance over the last three years. We’re proud to partner with HSBC and Waterfall — two highly respected institutions — as we scale our operations and expand access to flexible, tech-enabled premium finance solutions across the UK.”
Mawgan Harris, Managing Director at HSBC, emphasized the bank’s support for innovative financial platforms, noting: “We are delighted to support PremFina in this transaction. The facility reflects our continued commitment to backing high-quality UK businesses with scalable and sustainable funding platforms in the specialist finance sector.”
Waterfall Asset Management, which manages $14.1 billion in assets and specializes in private credit and asset-based lending, echoed that sentiment. “We are excited to partner with PremFina,” said Krishin Uttamchandani, Director at Waterfall. “The company’s strong underwriting processes, consistent performance, and innovative technology position it well for continued growth.”
Kandarp Rawal, Managing Director at SpecFin Capital, praised the strength of PremFina’s business model and the execution of the deal. “We’re thrilled to have supported PremFina on this landmark transaction,” he said. “The level of investor demand and smooth execution reflect PremFina’s robust business model and the growing institutional appetite for high-quality assets in the insurance premium finance space.”
PremFina has carved out a leading position in the market by combining proprietary technology with a customer-first approach, achieving a client conversion rate of over 70%. The company’s latest funding round underscores its readiness to expand further and meet increasing demand from insurers, brokers, and customers seeking seamless financing options.
