Interbridge said this would build on its “momentum” and grow its capacity to support customers during a “period of sustained growth”.
The firm said it was experiencing “record origination volumes” and the second charge market was continuing to grow.
The warehouse facility will complement its “long-standing funding relationship” and allow “overall flexibility” to meet growing demand, widen its product capability and boost its ability to “scale profitably”.
Interbridge launched in 2024, with origination volumes rising to in excess of £40m a month within 18 months of launch.
On its one-year anniversary last year, it said it had served more than 7,000 borrowers across £250m in loans.
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Jonny Jones, CEO of Interbridge Mortgages, said: “This new funding supports our long-term vision. We have worked closely with our existing funding partner to build a robust, trusted business, and adding this new facility from Citi gives us greater optionality. Successful completion of the facility demonstrates the market’s belief in our growth trajectory.”
He continued: “Brokers and their customers are increasingly realising the benefits of a second charge mortgage, and, with our 4.9 Trustpilot rating, we’re perfectly placed to ensure the customer receives the best possible outcome”.
Kandarp Rawal, managing director of SpecFin Capital, who advised Interbridge on the transaction, commented: “We are pleased to have advised Interbridge Mortgages on this important strategic milestone. The new facility reflects the evolution of their funding strategy to include balance sheet funding, which is expected to create long-term value and enable potential access to public capital markets in the future.
“The strong level of investor engagement in the process highlights the depth and quality of the Interbridge team as a leading originator of second charge mortgages. Alongside the Interbridge team, we are very pleased with the outcome and look forward to supporting the platform’s next phase of growth.”
