Consumer lenders who are repaid from borrower’s salaries have raised $232mn recently in the UK; Insurer Legal & General are set to announce a $53mn Investment into SalaryFinance for their US expansion; other market leaders in this segment include Neyber who recently raised $179mn in debt financing; the companies have built relationships with more than 50 groups in the UK and tying repayment to salaries helps to keep defaults extremely low. Source.
