Invested:
March 2005
Sector:
Financial services
Headquarters:
Conegliano, Italy
Region:
Italy
Business:
Consumer finance
Sigla was a small but long established player with a strong brand in the Italian consumer loans market.
Expanding on Palamon’s consumer credit thesis, the relatively unsophisticated nature of the Italian financial products market made it particularly attractive opportunity as the use of unsecured credit products in Italy was extremely low compared with other EU markets. Sigla, although a small platform, was a professionally run business, employing sophisticated under-writing techniques and with a well-developed market position from which a much larger business focused on near-prime consumer loans could be built.
Following a difficult period post-financial crisis, Sigla has steadily built out its position as one of the leading independent originators of consumer loan products in Italy originating and underwriting over €100 million of consumer loans per year.