MT Finance (MTF) has raised up to £50m of senior funding from funds managed by Insight Investment alongside mezzanine funding from an unnamed UK fund manager.
These new lines further diversify the funding structure of the business that currently includes a £125m committed forward-flow arrangement with a global institutional investment manager, as well as almost £100m from a portfolio of high net worth individuals.
Joshua Elash, co-founder, said: “MTF has assisted property professionals, business owners, and individuals with their finance requirements for the last 10 years. This additional funding will enable us to continue to provide leading, competitive, and relevant products to our clients into 2019 and beyond.”
Jeremy Deacon, Insight Investment, added: “Our Secured Finance strategy continues to seek compelling asset backed structures that provide our clients with attractive risk adjusted return while capturing the complexity/illiquidity premium on offer in the private ABS market.
“We have known Joshua and Tomer for the past few years and they have built an impressive bridging platform underpinned by good credit and service.
“We are pleased to support MTF on the next stage of their journey through the provision of scalable senior funding and look forward to a fruitful relationship over the next few years.”
MTF was advised by the Financial Services Corporate Finance team at EY.
Jordan Blakesley, senior manager, said: “We are delighted to have assisted MTF with the debt-raising process. The support demonstrates the strength of the underlying MTF platform and will enable the MTF team to act on the sizeable opportunities they are seeing in the market.”
Lee Doyle, Matthew Pentecost and Elizabeth Street-Thompson from the finance legal team at Ashurst LLP provided Legal advice to MTF.