Proplend and GLI part ways.
Following discussions between Proplend Limited and GLI Finance Limited, it has been agreed that the original Proplend shareholders will purchase the outstanding ordinary and preference shares from GLI Finance, thereby ending their current working relationship. Proplend will continue to monitor and service the outstanding loans GLI Finance made to SMEs via the Proplend platform.
Brian Bartaby, Founder and CEO of Proplend, said:
“Due to a divergence in the strategic direction of each business over recent months, it has been agreed that an end to the existing relationship was mutually beneficial. We would like to thank GLI Finance for their time as a shareholder and we wish them the best in the future”.