# Eldens Finance Limited (13354651)

> Why UK company 13354651 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/13354651

- **Status:** In administration
- **Administration began:** 2026-07-06
- **Administrators:** Hugh Francis Jesseman, William Antony Batty
- **Administrators' firm:** Antony Batty
- **Formerly:** Coin Fintech Limited
- **Incorporated:** 2021-04-23
- **Location:** Brentwood
- **Industry:** 62012 Business and domestic software development

## Why it went into administration

- Regulatory change or action
- Property / lease costs

## From the administrators' statement

Eldens Finance Limited (formerly Coin Fintech Limited) was incorporated in 2021 and traded as a specialist asset-backed lender, providing finance secured primarily against fine art, watches, jewellery, classic cars, luxury goods and other high-value assets.

The business was founded by Mr lan Welsh, the director, who has many years’ experience within the art finance and luxury asset sector. From the outset, the objective was not simply to operate as a traditional pawnbroker, but to develop a technology-led lending platform capable of modernising the industry. Mr Welsh has stated that the long-term vision, was to create a fully digital customer journey incorporating automated Know Your Customer ("KYC") verification, visual recognition technology capable of identifying assets and providing indicative market valuations and loan recommendations, together with a process enabling customers to complete the onboarding process remotely before arranging secure collection of pledged assets.

The Company was initially funded entirely by Mr Welsh through his own personal capital. As the business expanded and the loan book increased, additional funding was introduced through several third-party investors and funding partners, including Bluecroft Finance Limited (“Bluecroft”). The technology project remained an important objective; however, as the lending business grew, available capital was prioritised towards funding customer loans and expanding the Company's loan portfolio, with the technology development being placed on hold.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/13354651/filing-history/MzU0MTQ0ODg5NWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/13354651

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.