Lantern Debt Recovery Services Ltd. set for further growth after securing £15m
Yorkshire-based Lantern was established in 2008 and has now acquired and managed over 250 portfolios with a combined value of c.£1.3bn
Lantern is a respected and growing brand in the speciality finance market, focussed on purchasing and managing portfolios of unsecured consumer loans. Working with a number of established lenders since 2008, Lantern has developed significant experience and knowledge of the market.
The new committed senior revolving credit facility of £15m, supported by a further £15m accordion, provides Lantern with the capacity to acquire further loan portfolios as it continues to grow.
Lead by CEO Denise Crossley, recently awarded Business Leader of the Year at the Women in Credit Awards, Lantern champions industry-leading standards of care, regulatory compliance and portfolio management.
Lantern is backed by Copper Street Capital, an alternative investment firm with a focus on the financial services sector.
Warren Mutch, senior director, Structured Finance at Shawbrook says:
“We have seen what Denise and her team have achieved at Lantern and were delighted when EY made the formal introduction. At Shawbrook we have a lot of experience of structuring facilities for a range of non-bank specialist finance businesses, and putting together a bespoke facility for Lantern now gives them the flexibility and certainty they need to operate and grow sustainably.”
Denise Crossley, CEO at Lantern says:
“I’m very proud of the growth of our business over the last 10 years and the reputation we’re building for industry leading standards of care. As a highly specialist business it’s good to work with other specialists, like Shawbrook, who share our passion for and commitment to doing things the right way.”