This comprises Funding 365’s origination platform and its existing loan portfolio, as well as newly originated loans.
Funding 365 was founded in 2013 and operates in the bridging finance market, focusing on short-term first charge bridging loans to individuals and SMEs.
It has completed over 1,700 loans since its inception.
The acquisition is expected to enable Funding 365 to enhance its offering of bridging, development, and specialist buy-to-let (BTL) loans.
The lender’s management team, including managing director and co-founder Michael Strange, as well as director Paul Weitzkorn, will remain with the business and oversee day-to-day operations under Balbec Capital’s ownership.
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Ryan Singer, partner and head of residential credit at Balbec Capital, said: “This acquisition represents a compelling opportunity to re-enter the UK bridging market alongside a well-established platform and an experienced management team with an excellent credit track record.
“Owning an origination and servicing platform is essential to effectively access the UK specialist lending market at scale, and provides us with greater control over underwriting standards and asset selection and management. We are thrilled to expand our European real estate capabilities and to support Michael, Paul, and the entire Funding 365 team as they embark on their next phase of growth.”
This will involve Balbec Capital deploying capital through Funding 365 for its diverse global investment funds.
Strange said: “Joining forces with Balbec marks an exciting new chapter for Funding 365.
“The Balbec team’s deep credit expertise, institutional infrastructure and financing relationships, and technological capabilities will enable us to develop new products, grow our origination volumes, and serve our broker partners and borrowers even more effectively. We look forward to building on our track record together with a partner that shares our commitment to disciplined underwriting, product excellence, and exceptional service.”
