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How do people set up new banks or lending organisations?

Challenger banks have grown significantly in the UK over the last decade, as well as other finance providers for niche sectors (funding legal cases etc).

But how do these companies get the capital in the first instance? I get that they will get some from venture capitalists/business angels but how would pitches be successful with literally no revenue at that stage, assuming they haven’t put every single penny of their own net worth into it.
Just wondering if anyone has been involved in a start up lender and how they actually go about getting the funds required to actually start lending.



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