The British Business Bank Wins at FinTech Awards

LONDON, March 20, 2015 /PRNewswire/ --

The British Business Bank Investments Ltd recognised as best Alternative Finance Debt Funder

British Business Bank Investments Limited, the commercial arm of the government's British Business Bank, has won the Alternative Finance Debt Funder award at the FinTech Innovation Awards, London.

The organisation makes investments - on a commercial basis - into finance providers to create greater volume and diversity of lending in finance markets for smaller businesses. Its Investment Programme has now committed over half of its £400m budget since its launch in April 2013.

The FinTech Innovation Awards honour the highest achievements from the global financial and payments technology industries over the past year. Other finalists in the category included Arrowgrass, Ratesetter and Shawbrook.

Peter Wilson, Chief Executive of British Business Bank Investments Limited, said:

"As a relatively new publicly-owned institution, we are delighted to win this award for innovation against a strong field of nominees.

"Being recognised in this way by the private sector is a real achievement, providing validation of the approach we are taking to ensure finance markets work better for smaller UK businesses." 

Notes to Editors:  

About British Business Bank Investments Limited 

British Business Bank Investments is the commercial subsidiary of British Business Bank plc. It aims to earn a commercial return by investing debt and equity into providers of finance to smaller businesses and small mid-caps, pursuing investments on a fully commercial basis without receiving any advantage from the government.

In doing so, it aims to:

• support the development of diverse debt and equity finance markets which supply small to smaller mid-cap businesses
• increase the level of finance to those businesses, in particular improving the provision of long-term finance
• promote competition and increased supply through new and existing finance providers

British Business Bank Investments Limited operates primarily in the smaller and mid-sized business finance markets. Depending on the overall business strategy and objectives agreed through its annual business plan, British Business Bank Investments Limited may at times also include larger firms in its portfolios.

A complete legal structure chart for British Business Bank plc and its subsidiaries can be found on the British Business Bank website.

A full list of finance providers being supported by its Investment Programme can be found on the British Business Bank Investments website.

For further information please contact: 

British Business Bank - Seven Hills
Alexandra Gee
Nithiya Gnanathas
+44(0)207-199-2205