The digital challenger bank said this was a “major milestone” for the business, reaching the total in August this year. The lending figure includes loans offered by its asset-based lending division, Cynergy Business Finance.
Cynergy Bank rebranded and launched in 2018 and has since supported hundreds of SMEs and large enterprises, with finance to support expansion and sustainability across a wide range of sectors, from property, healthcare and logistics to tech, retail, and green energy.
Cynergy Bank recently partnered with UK-based real estate asset management and advisory company Delancey to launch a real estate lending partnership that will target up to £1.5bn of UK property debt over the next three years.
Nick Fahy, chief executive of Cynergy Bank, said: “Reaching £4bn is a testament to our belief in the strength and potential of British businesses. In a challenging economic environment, we remain focused on helping our customers invest, grow and create jobs in their sectors.
“At Cynergy Bank, we are proud to offer support that provides companies with the help they deserve. As the bank looks ahead, we remain committed to redefining banking with a ‘human-digital’ approach, and deepening our support for British businesses through responsible lending, innovation, and strategic partnerships.”
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Earlier this year, the lender appointed Stefano Combi as its chief financial officer and Paul Street as its chief risk officer.
