Goldman Sachs invests £100m in Neyber

The investment comprised primarily debt, according to a report by the Financial Times, though Goldman Sachs will also acquire a minority stake in the company as part of the deal.

The fresh capital will enable the business to increase the amount of capital it has at its disposal to lend, beyond the £70m it currently has available.

The GP will reportedly take a non-voting seat on the Neyber board following the transaction.

The deal comes just one month after Wadhawan Global Capital led a £21m series-C funding round for the company.

Company
Founded in 2014, London-headquartered Neyber provides consumer loans that are repaid directly via the borrower's salary. It offers short-term loans at lower interest rates than payday lenders or credit card providers, with rates ranging from 4.9% to 9.9%.

People
Goldman Sachs – Nishi Somaiya (partner).
Neyber – Martin Ijaha (co-founder, CEO).

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• Topics
• Expansion
• UK / Ireland
• Financials
• United Kingdom
• Goldman Sachs