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MT Finance secures £50m funding deal and record month

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  • 14/12/2018
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MT Finance secures £50m funding deal and record month
Short-term lender MT Finance has completed £50m of senior and mezzanine funding.

 

Insight Investment provided the senior funding with the mezzanine line coming from an unnamed UK fund manager.

The lender said these new lines further diversified the funding structure of the business.

It currently includes a £125m committed forward-flow arrangement with a global institutional investment manager and almost £100m from a portfolio of high-net-worth individuals.

MTF has completed more than £200m worth of loans in the last 12 months and had a record month of originations in November.

 

Next stage of journey

Co-founder Joshua Elash (pictured) said the additional funding would enable it to continue to provide competitive, relevant products into 2019 and beyond.

Insight Investment senior portfolio manager for secured finance Jeremy Deacon said: “We have known Joshua and fellow co-founder Tomer Aboody 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.”

EY corporate finance supported MTF on the deal alongside Ashurst LLP which provided legal advice.

 

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