Invest & Fund has agreed a £100m UK bank funding line to support its expansion plans.
The peer-to-peer development lending platform said that the deal will enhance its lending capabilities this year.
“With a significant market demand to fulfil, the ability to service the residential development sector with diverse funding lines is crucial, and this addition will only strengthen our overall proposition and ability to service our clients,” the firm said.
The announcement comes as Invest & Fund celebrates several milestones for the business, having lent £300m to date and £200m repaid to investors.
“We see ourselves as a solution-orientated fintech, with the solution being the amalgamation of an investable burgeoning asset class and the need for liquidity in the SME development space in the most efficient and disintermediated way possible,” Invest & Fund added.
“That need for capital is growing, and having brought in several new origination hires across key regions, we are in a prime position to service clients’ requirements.”
Banks are increasingly supporting alternative development finance providers.
Last month, prime property investment platform CapitalRise unveiled a £250m funding line with an unnamed bank, its fifth and largest secured to date.