CapitalRise hits £200m origination milestone
CapitalRise has said it has originated more than £200m in loans since inception.
The Prime property investment platform has funded developments across London and the Home Counties, valued at over £640m. Nearly £100m was originated during the 12 months to the end of June 2022, a 252 per cent increase year-on-year.
The firm said it will continue to diversify and deepen its funding lines while also investing in the expansion of its team. It is currently welcoming new joiners in its origination, credit, product and marketing teams.
Read more: CapitalRise secures new funding line to boost lending
“We are absolutely thrilled to have reached this milestone,” said Uma Rajah, chief executive and co-founder of CapitalRise.
“In 2016 we launched as a new lender into the prime Central London market when others were leaving it. The market was in decline, but as a debt provider with deep expertise in this specialist area, we understand the market well and appreciate its resilience in uncertain times. By lending prudently to high-quality borrowers on great schemes in desirable areas such as Chelsea and Mayfair, we have managed to grow the business considerably.”
Rajah added that the current market is a time of great opportunity for the business, which provides bridging, development and sales period loans, which are typically between £1m and £20m. Recently, the firm has been lending towards the upper end of that range, £10 to £20m, which it said has contributed to its rapid growth.
Read more: CapitalRise originations hit 2022 record high in June
Read more: CapitalRise expands lending radius beyond prime central London