Property finance firm CapitalRise has secured a £30m funding line, which will be used to meet high demand for bridging.
The company said that the funding line will be directed towards bridging loans in prime central London and high-end residential assets in outer London and the home counties.
The firm said it was part of its broader strategy to grow its bridging loan book.
The lender said that it has been seeing growing demand for bridging offerings, accounting for 47% of its loan book in 2023. This is up from 15% in 2022.
CapitalRise said it builds on its existing capital sources, with the firm obtaining at £250m funding line last year and upping its previous funding line by 50% in March this year to “bolster and diversify further its sources of capital”.
Uma Rajah, CEO and co-founder of CapitalRise, commented: “Securing this additional £30m funding line for bridging loans further supports the diversification of our capital sources, ensuring a robust funding model. We are thrilled to secure this new funding line as part of our continued commitment to serving our clients with bespoke financial solutions.”
Pip Lashko-Sayers, associate director of capital markets at CapitalRise, 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.”
CapitalRise has also brought on Imogen Williams as a business development director to support further growth in its bridging book.
Williams sat down with Specialist Lending Solutions earlier this month as part of our Know Your BDM series, which you can read here.
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
