This issuance brings the proportion of assets under management funded through public securitisation to just over 90% when aggregated with the outstanding Satus 2024-1 transaction.

The deal sits alongside Startline’s existing warehouse facility with JP Morgan – a five-year, £475m arrangement signed at the end of 2024 – signalling a multi-layered funding structure that combines bank-provided warehouse capacity with term asset-backed securities (ABS) take-out.

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.”

He explained that Startline currently handled around 300,000 proposals every month but the new technology had added massively to that capacity. 

Mr Burgess continued: “We’ve adopted the latest technology stacks, credit bureau data and system integration functionality, designed to futureproof the system for years to come.

“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.”

From a credit perspective, Startline operates in the near-prime segment of UK motor finance, a part of the market that has drawn closer regulatory and investor scrutiny in the wake of the FCA’s motor finance commission review.

Founded in 2013, Startline now employs 240 people, holds £652 million in assets under management and serves 85,000 customers.