A new fintech consumer finance venture has chosen Cardiff as its UK operational headquarters with the aim of having a lending book of £750m in just four years.
The director team of Allium Lending Group include experienced figures in the financial services sector, including Julian Nutley a former director at challenger bank Shawbrook Bank.
The business, which has had a soft launch and will maintain a presence in the London, is currently recruiting in Cardiff and is anticipating becoming operational in May.
It will specialise in unsecured lending for home improvements as well as operating in the hotel and travel sector.
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It has secured the backing of institutional investors and has already identified office space close to the centre of Cardiff to allow it to expand.
The business looked at a number of UK locations, but the support of Cardiff Council's economic development team played a decisive factor in its decision to move to the city.
Mr Nutley said:"Ken Poole and the team at Cardiff Council were very helpful.
"We did consider a number of other locations, but Cardiff ticked all the right boxes in terms of the skills we needed, quality of life, but benefiting from being close to London.
"We are currently recruiting in a number of areas including customer service roles, underwriters and administrative staff.
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"We aim to reach 100 staff over the next two to three years, with a loan book of £250m by the end of this year and £750m over the next three to four years."
With a number of financial backers, Allium is also exploring a number of merge and acquisitions opportunities, which could see the 100 jobs mark in Cardiff being exceeded.
Its average loan will be around £5,000 with technology and automation at the heart of the business, but with experienced underwriters making what Mr Nutley described as real decisions.
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Allium is also looking at ways to revive what was the UK Government's Green Deal scheme that provided loans to make homes more energy efficient.
