Startline completes £452m LSE securitisation to fund growth

Startline Motor Finance has completed a £452 million securitisation on the London Stock Exchange, marking the latest issuance under its Satus programme and supporting the next phase of its expansion.

The transaction, named Satus 2026-1, represents the company’s third securitisation under the programme and, when combined with the earlier Satus 2024-1 deal, has seen Startline float just over 90% of its assets under management.

The lender will also continue its funding relationship with J.P. Morgan, which agreed a five-year £475 million funding facility with the business at the end of 2024.

Paul Burgess, chief executive of Startline, said the securitisation attracted strong investor demand from across international markets.

“This securitisation attracted a broad and diverse pool of high-quality international investors, including a large proportion of repeat investors, which is a testament to the quality of business that the team here in Glasgow is writing,” he said.

He added that the new funding would allow the company to deploy capital more efficiently as it prepares for further growth. “We’re currently gearing up for a new phase of growth and this new funding will help us make more efficient use of our capital.”

Startline has invested heavily in its operational infrastructure over the past year, including the rollout of a new origination platform designed to increase capacity and streamline processes. The business currently handles around 300,000 finance proposals each month, with the upgraded technology expected to significantly enhance throughput.

“We’ve adopted the latest technology stacks, credit bureau data and system integration functionality, designed to futureproof the system for years to come,” Burgess said. “As we grow, we’ll be able to process more business, more quickly. For partners such as dealers and other introducers, we can deliver more and better lending decisions.”

Founded in 2013, Startline serves around 85,000 customers and manages £652 million in assets, employing 240 staff at its Skypark headquarters in Glasgow.

Specialising in near-prime motor finance, the lender works with around half of the UK’s top 50 franchise motor dealers by turnover and approximately 70% of the top 50 independent car retailers, representing roughly 2% of the overall UK motor finance market.