GLI revealed it had invested £5m in the online SME finance marketplace, of which it holds 84% ownership.
Andy Whelan, Chief Executive of GLI Finance, said: “We’re delighted to announce our additional investment in Platform Black.
“The business is one of huge potential, with a clear market positioning and strong management team.
“Our expertise as one of the leading investors in the sector will ensure we’re able to work closely with the company to drive the next phase of its growth, as it continues to deliver its compelling proposition to UK SMEs.”
Caroline Langron, Managing Director of Platform Black said: “The ongoing support and corporate strength of GLI Finance is a significant boost to our business.
“This milestone enables us to continue our rapid growth trajectory and complements our commitment to continuously investing in the platform and our risk-focused team.”
For the year ending 31st March 20126, Platform Black announced zero defaults for the 12-month period.
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