London-based real estate loan platform, Pivot Finance, has successfully secured a substantial funding commitment of £70M (approximately €81.4M) from Foresight Group and Quilam Capital. The funding, comprising senior debt from Foresight Group and junior capital and equity of £40M from Quilam, aims to boost Pivot’s technology capabilities and expand its lending products.
In this strategic partnership, Foresight Group’s senior debt and Quilam’s capital and equity, including substantial working capital facilities, will support Pivot’s technology and product expansion. The goal is to enable the company to scale, diversify its services, and grow its loan portfolio.
CEO’s Perspective on the Funding:
Shahil Kotecha, CEO of Pivot, underscored the unique nature of the affiliation with Quilam, emphasizing synergies between the organizations and management teams. He highlighted that the support from Foresight Group provides a robust funding runway, positioning Pivot to serve the market for years to come and scale its platform.
Pivot’s Mission and Services:
Established in 2012, Pivot specializes in short-term real estate loans, simplifying the borrowing process for its clients. Offering a range of lending facilities, Pivot supports developers and clients through bridge loans against consented land, ground-up development, and development exit facilities.
Investor Insights:
Quilam Capital, a specialist growth investor in the alternative finance market, expressed delight in continuing support for Pivot. Alex Scott, Director at Quilam Capital, acknowledged the demand in the UK for funding quality developers. Foresight Group, a sustainability-led alternative investment manager, praised Pivot’s lending proposition, expressing commitment to the business’s development finance strategy.
Enhancing Real Estate Financing:
Pivot Finance’s recent funding commitment is a significant step in advancing its real estate loan platform. With support from Foresight Group and Quilam Capital, Pivot is poised to expand its offerings and continue simplifying the borrowing process for real estate development across the UK.
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By Proptechbuzz
By Ravi Kumar
