Startline Motor Finance has completed a new £450 million securitisation on the London Stock Exchange (LSE). The company has floated approximately three-quarters of its existing assets under management through a securitisation programme, listed under the name Satus, while continuing its funding relationship with J.P. Morgan.

This follows a £292 million securitisation in late 2021.

Founded in 2013, Startline serves 80,000 customers, manages £600 million in assets, and employs 200 people at its Skypark head office in Glasgow. Specialising in near-prime motor finance, Startline collaborates 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, representing approximately 2% of the total UK motor finance market.

Paul Burgess, CEO of Startline, stated, “The new securitisation attracted a broad and diverse pool of high-quality international investors and was significantly oversubscribed, which is a rarity and a testament to the quality of business that our team in Glasgow is delivering.

“This strategy is designed to help us make more efficient use of our capital and diversify our funding. In the future, we plan to carry out further regular securitisations and potentially access mezzanine funding. We believe this will give us the right mix to continue our expansion.”

Burgess added that Startline has been heavily investing in technology, including new systems such as a business portal for dealers, biometric e-signatures for quicker and more efficient credit agreement processing, and a range of AI-style robotic process automation.

Gary McLeod appointed as head of commercial at Startline Motor Finance