Prime property finance company CapitalRise has signed a new £30m funding line with an unnamed UK bank.
The firm suggested the new funding line reflects a commitment to meeting the current high demand for bridging finance in the property market.
CapitalRise will direct the new capital towards bridging loans in prime Central London as well as high-end residential assets in outer London and the home counties. This is part of CapitalRise’s broader strategy to expand its bridging loan book.
The firm has reported growing demand for its bridging offering recently, following an increase in bridging loan origination. In 2022, short-term finance represented 15% of the loan book, but increased to 47% in 2023.
“Securing this additional £30m funding line for bridging loans further supports the diversification of our capital sources, ensuring a robust funding model,” said CEO and co-founder of CapitalRise, Uma Rajah. “We are thrilled to secure this new funding line as part of our continued commitment to serving our clients with bespoke financial solutions.”
Associate director (capital markets) at CapitalRise, Pip Lashko-Sayers, added: “The new funding line not only helps us to meet the growing demand for bridging finance but also builds on our strong partnership with this renowned UK bank, with whom we have had a relationship with for the past seven years.
“Having completed several transactions together during this time, it is great to now formalise and expand the relationship with this latest funding line. We look forward to continuing to offer flexible and competitive finance solutions to prime property borrowers together.”
