Santander & NatWest Fund UK Fintech Ideagen
(17 May 2021 – United Kingdom) Santander United Kingdom (UK) and NatWest will jointly seed £100 million in growth funding for the UK-based Financial Technology (FinTech) company Ideagen.
£75 million has already been committed to the FinTech and a further £25 million may also be brought forth to support future growth.
Ideagen specialise in providing quality, audit and risk software solutions to financial institutions particularly within highly regulated territory. As part of its growth strategy, Ideagen has acquired 21 companies in the UK and overseas in the past ten years and will continue using this strategy for new markets going forward.
“Securing an additional line of credit with Santander UK, in addition to our existing facilities with NatWest, is a fantastic endorsement of our strategy from two leading financial institutions. Despite the pandemic, we have had another successful year and I am looking forward to working with Santander UK and NatWest to deliver further growth for our business and more good news for our shareholders” commented Ideagen Chief Financial Officer, Emma Hayes
“The growth of Ideagen over the past decade has been absolutely phenomenal, and as an ambitious, market leading, high growth, and internationally trading firm, it aligns perfectly with our Corporate and Commercial Banking proposition. In addition to supporting Ideagen with a revolving credit facility, we are delighted to utilise our extensive international knowledge and expertise as well as our international banking and cash management solutions” commented Santander UK Relationship Director, Martin Brummitt
“NatWest are delighted to provide continued and increased financing support to our long standing, much valued client Ideagen. Having had the privilege to work alongside Ideagen as their strategic banking partner for a number of years, we have been incredibly impressed by their values, their ambition and the market leading growth the management team have delivered. We very much look forward to working alongside Ideagen into the future and supporting their continued growth and success” commented NatWest Director of UK Financing Solutions, Mike Malone