London, United Kingdom
Growth Street, founded in 2013, emerged as a trailblazer in the Fintech and Financial Services sectors, targeting the significant challenges faced by the UK's SMEs in accessing finance. Within five years of its inception, it achieved full authorization from the FCA and positioned itself as a leading P2P lending platform.
The company orchestrated over £500m in loans through its innovative product, GrowthLine, up until 2019. Despite this impressive growth, Growth Street succumbed to the economic disruptions of Covid-19 and initiated a solvent wind-down process by April 2021, ensuring all peer-to-peer capital and interest were returned to investors.
Backed by investors like Arts Alliance Ventures and Chrysalis Investments, with a last capital injection of £10 million in June 2019, Growth Street's efforts diligently supported the SME sector until its closure, exemplifying a responsible exit strategy amidst challenging circumstances.
