NewDay is one of the UK's fastest growing specialty finance companies, providing credit to more than five million customers and with £1.6 billion of receivables.
It operates in two business segments: near-prime, which provides Aqua and Marbles branded credit cards to customers who are new to credit or wish to rebuild their credit history; and co-brand, which provides credit cards in partnership with established retailers such as Debenhams and House of Fraser.
The UK is the largest credit card market in Europe. NewDay has generated strong growth over the past five years, which is expected to continue given continued consumer demand for its products, strong brand recognition and distribution channels, as well as the launch of additional innovative credit products.
NewDay has strong underwriting capabilities, with its credit risk management systems using proprietary analytics and insights refined over the past 14 years. The business delivers industry leading customer advocacy, and is well-positioned for significant future growth.
CVC Capital Partners invested in NewDay alongside Cinven.
We are delighted to be working with Cinven and CVC going forward - both have an excellent track record of supporting growing businesses and as responsible investors in the financial services sector. They are both fully aligned with NewDay's objectives of continuing to grow by offering compelling products and services to our customers alongside the highest standards of risk management.