We're proud to announce that Neyber has secured up to a further £100M in a capital investment round led by Goldman Sachs. The investment includes debt and equity as part of the recently completed series C fundraising round providing Goldman Sachs with a stake in the company. In addition to this, we have also secured £15m of lending capital from existing investors led by Henry Ritchotte and Gael de Boissard in this investment round.
Since launching nationally in January 2016, Neyber now counts over 80 private and public sector organisations across the UK as clients, including some of the largest UK employers. We are especially proud to say that we have saved our members £14M in interest payments and developed an addressable market of 700,000 employees.
This is a groundbreaking transaction for Neyber and the most significant milestone in our development to date.
This transaction brings Neyber’s award winning proposition further into focus and comes at a time when Neyber is launching with some of the largest employers in the UK. This capital investment will allow Neyber to embrace these opportunities and expand the universe of employees that Neyber can serve. This supports our mission of improving the financial wellbeing of even more UK employees.
Goldman Sachs joins Police Mutual and WGC to create a group of core strategic investors in Neyber's future. Collectively the investment and expertise these three organisations bring across areas such as capital markets, financial services and credit risk will serve to cement Neyber’s position as the leading player in the UK salary deducted lending market.
Dennis Beeson, a senior executive with Goldman Sachs Private Capital, said:
“We are excited to partner with Neyber on its period of rapid growth. Employee financial wellbeing is of increasing importance to UK employers and Neyber is a key player in the evolving market. Neyber’s strong management and leading technology platform ensure its continued success.”