LEND

Sancus Lending Group Limited

Financial Services First-pass screen £13m

320/1000 Overall fit

AI beneficiary 35% 20

Operating leverage 25% 48

Valuation 25% 30

Downside protection 15% 38

First-pass take

Property lender with zero AI exposure and cyclical business model. Recently profitable (£1.2m PBT in 2025, but £2.6m from ZDP buybacks; underlying operating loss £1.7m), growing loan book 29% to £306.7m. Lacks downside protection: highly leveraged, dependent on private wealth and institutional funding, and exposed to property market cycles.

Flags

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