Client Overview

  • Nectar is an Auckland based online lender, founded in 2016 by Symon Nausbaum
  • Nectar provides personal loans to NZ borrowers up to a maximum of NZ$25k in addition to a new ‘Buy Now Pay Later’ solution, NectarPay, launched in 2021
  • Nectar strategy is gaining strong traction with loan originations currently growing at 33% quarterly

Facility Overview

  • GCI provided an open-ended $6M facility that grows progressively as the facility is drawn
  • The wholesale facility will support Nectar’s rapid growth in originating personal loans and the launch of their new Buy Now Pay Later solution
  • Structured with a demarcated security pool that allows Nectar to maintain existing funding arrangements


  • This is GCI’s third transaction in New Zealand demonstrating GCI’s growing presence in the NZ market.
  • GCI’s facility will enable Nectar’s growth in advance of originations growing to a scale where they can access capital markets or a wholesale bank facility.
  • GCI and Nectar agreed to pre-document increases in the LVR that allow the facility to grow modestly in response to Nectar maintaining high standards in its credit underwriting.

Providing Value Added Credit

Unlike traditional facilities where funding lines are for a specific amount, GCI’s funding is open ended and the facility increases as we draw down more funding.

This strategic partnership with GCI enables us to grow to the point we can secure a wholesale bank facility, and is an endorsement of our model and potential.”

Simon Nausbaum, CEO Nectar NZ Limited