Fintech Acquisition Boosts Consumer Lending For MTF Finance

MTF Finance strengthens its consumer offering today by purchasing FinTech online brokerage, Lending People.

Founded in 2012, the Lending People are technology-driven specialists who make it seamless for consumers to borrow online. For MTF Finance, this acquisition is part of a strategic digital transformation to provide customers with the ultimate lending experience across all channels.

Says Board Chair Mark Darrow, “The acquisition is part of the long-term strategy of MTF Finance to broaden its reach into new channels and markets while supporting and growing existing channels. Lending People operates digitally and is a key addition to enhancing MTF Finance’s portfolio, as well as its technology and performance marketing platform will growing the core MTF Finance business also.”

Says CEO Chris Lamers, “We believe in making lending about people again and have been working on contemporary solutions to support all lending needs. Kiwis know us for providing exceptional service, and with more people looking online to borrow, we want to ensure that we are there for them to uphold our service standard, no matter how they engage with us. Lending People offers significant potential to grow MTF Finance’s revenue and volume while offering a ready-made solution to transforming our digital product offer and technology platform.”

Added Lamers, “It will also allow us to grow existing channels, enabling customers who need to talk to a person to engage with our franchises.”

Lending People co-founder Adam Chisnall says, “With an unwavering focus on technology and people, it's our simple ambition to make lending a breeze and provide kiwis with the means to embrace opportunities. MTF Finance shares this focus, and I'm excited to combine our strengths, enhance existing products and services, and catalyse innovation in new business channels."

MTF Finance will purchase all shares in Lending People, which will transfer to MTF Finance in early February upon completion of the sales and purchase conditions.

Lending People will continue to operate as a stand-alone business with Chisnall in the CEO role, reporting to CEO Chris Lamers of MTF Finance.

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