MT Finance (MTF) has raised up to £50 million from funds managed by Insight Investment.
The company has also secured mezzanine funding from an unnamed UK fund manager.
These new lines further diversify the funding structure of the business that currently includes a £125 million committed forward flow arranged with a global institutional investment manager, as well as almost £100 million from high net worth individuals.
What is MT Finance?
MT Finance is a bridging finance lender specialising in short-term loans, including auction finance and bridging loans. It works on both a first and second charge basis. The company was established in 2008 by co-founders Joshua Elash and Tomer Aboody.
It has successfully completed over £200 million in loans in the past year and had a record month of originations in November 2018.
Joshua Elash said, ‘MTF has assisted property professionals, business owners and individuals with their finance requirements for the past ten years. This additional funding will enable us to continue to provide leading, competitive and relevant products to our clients into 2019 and beyond.’
Jeremy Deacon from Insight Investment said that they are pleased to support MTF. ‘We have known Joshua and Tomer for the past few years and they have built an impressive bridging platform underpinned by good credit and service’.
Jordan Blakely, the firm’s senior manager, echoes that they’re delighted to have helped with the debt-raising process. ‘The support demonstrates the strength of the underlying MTF platform and will enable the MTF team to act on sizeable opportunities they are seeing in the market.’