January 13, 2021
Quilams 11th Investment; Pivot
Quilam Capital invest £15million to enable Pivot to further progress its’ finance offering. The transaction represents Quilams’ 11th investment.
The £15million investment supports the growth of Pivots’ bridging and development finance offering.
The new funding lines will be used by Pivot to underwrite unregulated bridging loans and build out its bridging and development finance offering. 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. Quilam were advised by Macfarlanes LLP.
Pivot has been providing short term real estate loans since its launch in 2012, providing over £200m across facilities secured against assets throughout England & Wales. Since the outbreak of the Covid-19 pandemic the business has been more focussed on its existing clients and loan book but will now be offering new products in response to favourable market conditions, which have seen bridging loan volumes increase as a result of Government stimulus and a continued retrenchment of traditional high street lenders.
Shahil Kotecha, CEO of Pivot, commented:
“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.”
“We are excited to be able to add Pivot to our roster of portfolio companies. We have known the management team for a while and have been particularly impressed by how Pivot underwrites transactions, using tools that we haven’t seen across the market. The result has been a strong performance of its existing loan book and we will be working with the team to build on this solid foundation and accelerate growth materially in 2021 and beyond.”
~ Marc Sefton, Partner at Quilam Capital
Experiencing the challenges of raising finance first-hand, Pivot was launched with the mission of making the borrowing process as simple as possible. Pivots’ aim is to support our clients to twist and turn in this volatile market, to finish projects, to create opportunities and to progress their business objectives.
You can find out more about Pivot or apply online here https://www.pivotfinance.co.uk/loan