Simpson Grierson has advised Bank of New Zealand and Kiwibank on the provision of new senior loan facilities to Lock Finance Limited, part of the Runway Group.

Lock Finance is a specialist working capital and invoice finance provider that enables New Zealand businesses to accelerate growth by unlocking the value of their unpaid invoices. It serves a range of industries and focuses on providing an alternative to traditional bank lending. The new facilities will support the continued development of Lock Finance’s loan portfolio and product suite following its acquisition by Runway Limited in March 2026.

Our Banking & Finance Senior Associate Matt Mazenier said the deal demonstrates the growing role played by non-bank financiers within the wider New Zealand lending market.

“The non-bank lending sector in New Zealand is growing rapidly, and this transaction highlights the important role mainstream bank funding can play in supporting specialist lenders. As businesses increasingly seek working capital structured around their receivables, customers and trading cycles, rather than property, specialist lenders like Runway are well placed to meet that demand with the backing of institutional funding partners.

We were pleased to act for the lenders in putting in place new senior facilities to support Runway's future. It is a well-conceived platform with an experienced team behind it, and we look forward to watching the Runway group continue to grow and broaden their offering for New Zealand businesses.”

The Simpson Grierson team was led by Banking & Finance Partner Dominic Toomey and Senior Associate, Matt Mazenier, with support from Solicitor Charlie Cave.