CapitalRise secures new funding line to boost lending
CapitalRise has secured a new funding line, which it says will enable it to take on a greater quantity of projects in London and the Home Counties.
The Prime property lender said that the agreement is with a “well-known UK investment manager” and will be used to pre-fund Prime real estate loans.
“CapitalRise already has a number of pre-funding facilities like this which enable us to increase the speed at which we can transact with our borrowers however as the business continues to grow rapidly and we focus on larger loan sizes this provides us with additional capacity to fuel our growth,” the firm said in a blog post on its website.
Read more: CapitalRise originations hit 2022 record high in June
“The partnership will further allow the team to move quickly and efficiently when processing lending applications.”
CapitalRise has secured a number of institutional funding lines over the years to help scale up its lending.
In 2019 it announced that it had agreed a £30m deal with a “major financial institution”, and in its latest annual results it revealed that it had secured a £72m funding line with another unnamed institution.
As Peer2Peer Finance News reported in June, CapitalRise has expanded its remit to invest in properties outside prime central London postcodes.
The property investment platform is now offering opportunities for property developments in prime outer London and the Home Counties.
Between April 2016 and April 2022, CapitalRise originated £162m in property-backed loans, against properties which have a total value of £572m. £93m has been repaid to investors, with zero defaults or losses.