Suros Capital announce major uptick in financial performance
Suros Capital, the luxury asset backed short term lender, has revealed that between March 2022 and March 2024, the group’s loan book increased by 88%. In those two years, total annual group revenues increased by 110% from £4.5m to £9.5m, the return on capital increased to 20%, and profitability has increased by 5 times.
According to Paul Aitken, Chairman of Suros Capital and other group companies, the last two years have seen a major breakthrough for the company in the minds of intermediaries.
He said, “Since we launched our service based on securing short term loans against luxury assets about 3 years ago, we have seen a gradual rise in new business. However, the message about using luxury assets including jewellery, fine art, watches, luxury and classic cars and fine wine rather than bricks and mortar as security for short term loans has really got through to the broker market. Far from being seen as a fringe lender, Suros Capital has really established itself as a genuine alternative to traditional short term lenders.”
Paul added, “Our commitment to providing a service that is so much faster than traditional short term lending sources and requires so little paperwork and intrusive personal financial checks has clearly had a positive effect on the way advisers think about the service they offer clients. Speed and simplicity are the keys to the success that Suros Capital is now enjoying.”
