In October 2020 Gordon Brothers, the global advisory, restructuring and investment firm provided Splend Pty Ltd with critical bridge financing enabling the timely refinance of approximately 50% of its car fleet.

Founded in Sydney in 2015, Splend has become Australia’s largest car rental provider for ride-sharing drivers and an Uber vehicle partner. Splend expanded its operations to the United Kingdom and Europe in 2018 and is focused on increasing its market share internationally.

As part of this deal, Gordon Brothers provided an alternative credit and risk perspective that focused on asset values to mitigate any potential adverse COVID-19 impacts on the borrowing capacity. This financing provides Splend with a stable platform to continue operations, and Gordon Brothers will continue to work with the company to support its growth over the coming months.