12
th January 2021
12:58 pm
Specialist lender Pivot has secured a £15m investment from finance firm Quilam Capital to increase its unregulated bridging and development finance offering.
The funding will support the senior facility Pivot has renewed and enhanced with Shawbrook Bank.
Pivot, which launched in 2012, says there is also a specific capital contribution being made by Quilam to enable the business to grow its operating model and specifically its data analysis tools.
Pivot chief executive Shahil Kotecha says: “The affiliation with Quilam is more than a typical lender-borrower relationship and whilst completing the transaction during lockdown had its challenges, the synergies between the organisations and management teams were harnessed. This partnership approach, and continued support from Shawbrook, will be vital in growing the Pivot business in 2021 and beyond.”