Pivot Finance, a London-based platform providing real estate loans, has announced securing a substantial funding commitment of £70M (approximately €81.4M) from Foresight Group and Quilam Capital. This significant financial boost aims to expand the platform’s technology capabilities and lending products.
In this funding round, Foresight Group will contribute senior debt, while Quilam will offer junior capital and equity of £40M, including significant working capital facilities. This partnership is designed to support the expansion of Pivot’s technology and product offerings, allowing the company to scale and diversify its services and grow its loan book.
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CEO’s Perspective on the Funding
Shahil Kotecha, CEO of Pivot, highlighted the unique nature of the affiliation with Quilam, emphasizing the synergies between the organizations and management teams. He expressed that the new support from Foresight Group provides a robust funding runway to support the market in the coming years and scale the Pivot platform.
Pivot’s Mission and Services
Established in 2012, Pivot specializes in short-term real estate loans, supporting hundreds of developers and clients and delivering thousands of homes and units across the UK. The company’s mission is to simplify the borrowing process, making it as straightforward as possible for its clients. Pivot offers a range of lending facilities across the development lifecycle, including bridge loans against consented land, ground-up development, and development exit facilities.
Investor Insights
Quilam Capital, a specialist growth investor in the specialty and alternative finance market, has been a supporter of Pivot since December 2020. Alex Scott, Director at Quilam Capital, expressed delight in continuing their support for Pivot with new investments and additional junior growth capital. He acknowledged the significant demand in the United Kingdom to fund quality developers and schemes, and the new combined funding package will enable Pivot to continue its growth and expand its offerings.
Foresight Group, a sustainability-led alternative investment manager, is committed to supporting innovative finance businesses like Pivot. Oliver Bates, Senior Private Debt Manager at Foresight, praised Pivot’s impressive lending proposition and expressed commitment to the business’s development finance market strategy.
Enhancing Real Estate Financing
Pivot Finance‘s recent funding commitment marks a significant step in enhancing its real estate loan platform. With the backing of Foresight Group and Quilam Capital, Pivot is well-positioned to expand its offerings and continue its mission of simplifying the borrowing process for real estate development across the UK.
