Jaja Finance digital lending platform reveals investor consortium has become majority shareholder in the company
Online loan platform Jaja Finance Ltd reveals that a consortium of investors, led by shareholders KKR and including entities owned by investment funds managed by TDR Capital srl, have entered into an agreement with Jaja to become the majority shareholder of the company.
This deal would support Jaja in his goal of becoming the online supplier consumer lender of choice in the UK. Jaja was advised on the deal by Jefferies.
The financial terms of the transaction, which is currently subject to regulatory authorizations and approvals, have not been made public. Original investors, such as IAG Silverstripe, will retain considerable holdings, the update confirmed.
Jaja was created to offer fully digital credit solutions with special emphasis on simplicity and quality of service. The additional investment is expected to support Jaja so that she can continue to invest in its consumer credit product offering as it prepares to introduce its Jaja branded credit card in the UK and further develop its line. of products.
The Jaja team will grow significantly with a focus on product and data science, software development, engineering and IT operations, so that they can position the company to offer a full suite of products and services. .
David Chan, CEO of Jaja Finance, said:
“We are delighted to conclude this agreement with KKR and TDR which validates the confidence we all have in our platform and our employees. With the support of the new majority shareholders, we look forward to our next phase of growth with the launch of our credit card, as well as the development of credit proposals for our clients, fueled by our agile technology and our analytical capacity. machine learning. “
Vaibhav Piplapure, MD at KKR, noted:
“As existing shareholders of Jaja, we have been impressed with its development and We look forward to supporting its transformation and growth with our new strategic partners.
Chris Jones, Partner of IAG Silverstripe, added:
“As a backer of the company since its inception, we are delighted with this transaction. KKR and its strategic partners bring a wealth of experience in the development and growth of businesses. This, along with Jaja’s great team and platform, will propel the company to the next level and beyond. “
Credit funds and accounts managed by KKR first invested in Jaja in 2019 with the acquisition of a UK-based credit card portfolio and have continued to invest in the business since then.
Existing investors would include the Future Fund, the UK government’s program to support high potential companies during the COVID-19 crisis.