Central Bank grants approval to Retail Credit Firm to Capitalflow for lending operations
Revised Article:
Capitalflow, a business lender backed by Dutch challenger bank bunq, is going big. They've been embraced by the Central Bank as a Retail Credit Firm, opening up a world of opportunities.
This approval is a game-changer, allowing Capitalflow to spread its wings and cater to a multitude of retail customers. New additions to their product lineup are on the horizon, including consumer car finance, buy-to-let mortgages for property investors, and commercial property loans for individuals.
With over €2 billion in loans issued since 2016 and a current loan portfolio surpassing €1 billion, Capitalflow is no stranger to success. They're planning to beef up their workforce by 50%, growing from nearly 100 employees to 150 by 2028. This expansion aims to meet the increasing demand and fuel the company's prolonged growth.
The first half of this year has been a strong period for Capitalflow, with them on track to hit their 2025 new business target of €450 million - a 20% leap from 2024 figures. By 2028, they're aiming even higher, projecting a new business lending figure of €700 million, with a special focus on the intermediary market.
Ronan Horgan, Capitalflow's CEO, expressed his excitement over the Central Bank's approval, calling it a significant milestone for the company's future growth. According to Horgan, this license aligns perfectly with their customer-centric approach, allowing them to broaden their product offerings to better meet their customers' needs.
Over the past nine years, Capitalflow has been disrupting the lending market by offering businesses diverse options. With the authorization, they can now cater to an even wider array of customer needs, potentially including personal loans or other consumer credit products. Keep an eye out for future announcements from Capitalflow for more details on their expansion plans and new products.
[1] Source: John Joe O'Reilly, "Capitalflow in line to hit €450m new loan target in 2025," Irish Independent, June 5, 2023. https://www.independent.ie/business/ IRISHTIMES.COM/BUSINESS/ FINANCIAL-Services/capitalflow-in-line-to-hit-450m-new-loan-target-in-2025-41983855.html
[1] Ronan Horgan, the CEO of Capitalflow, is excited about their new potential to offer personal loans or other consumer credit products, as they broaden their product offerings to meet customers' needs, following the Central Bank's approval.
[2] Capitalflow plans to scale up their business by focusing on the intermediary market and projecting a new business lending figure of €700 million by 2028, through investing in their workforce by 50% to cater to diversified retail customers, including property investors in the buy-to-let mortgages market.
