Optimum Credit Ltd - a new second charge mortgage lending company -- has established its headquarters in Cardiff where it is set to create more than forty jobs with support from the Welsh Government.
The multi-million pound investment, backed by Patron Capital Partners - a private equity real estate investment house and one of the leading real estate managers in Europe -- has been supported with 600,000 business finance from the Welsh Government to create 44 jobs over five years, many of which are senior roles.
Optimum Credit Ltd operates in a highly specialist market providing secured loans for homeowners who have existing mortgages. The founding members are : Jonny Jones, Finance and Risk Director, Simon Mules, Commercial Director and Paul Strinati, IT Director, who have considerable management experience in this field.
The company, which is currently in its first full week of trading and will operate throughout the UK, has already created twenty jobs and is continuing to recruit for a wide variety of roles.
Welcoming the investment, Economy Minister Edwina Hart said:" I am delighted Optimum Credit Ltd has chosen Cardiff as its headquarters where it will grow the business and create highly skilled jobs in financial services -- one of our priority sectors.
" Cardiff is becoming recognised as the location of choice for the financial and professional services sector which is backed by a competitive and compelling proposition offering businesses a skilled workforce, first class infrastructure and support.
" Optimum Credit Ltd joins a growing number of new innovative businesses and established national and international centres that have chosen to invest in Wales and I wish them every success in the future."
Finance and Risk Director Jonny Jones said:" These are exciting times for Optimum Credit Ltd -- we are in advanced negotiations for significant funding from one of the major high street banks and have the backing of Patron Capital Partners which illustrates a high level of confidence in our business.
"Our management team is probably the most experienced in the UK. We will be bringing some unique ideas to the market and our technology platform is already significantly more sophisticated than the systems used by our competitors. We fully expect to rapidly become a major player in our marketplace.
" The second charge loan market is growing at a fast rate and Welsh Government support has been invaluable in enabling us to get up and running quite rapidly to maximise these opportunities.
" Cardiff is a great place to base our business as the availability of high quality, experienced people in our sector is probably greater here than in any other city in the UK. Strong transport links between Cardiff and London were also a key factor in our decision to set up in Cardiff as we have easy access to the world's most liquid capital market in the City of London."
Optimum Credit Ltd is currently based in Brunel House prior to moving to a permanent base in Haywood House, Dumfries Place, Cardiff.