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13 March 2020: Assetz Capital has become the first property-focused marketplace platform to receive funding from British Business Investments (BBI), a commercial subsidiary of the British Business Bank.
The £15m commitment from British Business Investments will support in excess of £100m of new lending to smaller businesses and smaller housing developers, helping them grow as well as helping fuel the development of new homes across the UK.
The funding will be used for development finance loans and SME commercial mortgages originated by Assetz Capital.
Stuart Law, CEO at Assetz Capital, said: “Assetz Capital was founded to help resolve the housing crisis and create a fairer lending landscape by providing funding to SMEs and property developers who were no longer being fully supported by traditional banks. To date, we’ve lent more than £1bn to UK businesses, providing over £100m of much needed gross income to a community of 38,000 retail and institutional investors in the process.
“The support of British Business Investments is a further milestone in this mission, and we are grateful for their new backing towards our continuing commitment to addressing the housing crisis and SME funding gap. It’s a testament to the impact that can be delivered by Assetz Capital and a welcome addition to our growing stream of institutional funding sources including other banks and investment funds.”
Catherine Lewis La Torre, CEO, British Business Investments, said: “This £15m commitment to Assetz Capital supports British Business Investments’ objective to increase the diversity and supply of finance for smaller businesses across the UK. By providing finance to smaller housebuilders, we’re able to help them to fulfil their growth plans and increase the country’s new housing stock.”
Since being founded as a FinTech start-up in 2013, Assetz Capital has lent over £1bn to smaller businesses and housebuilders, becoming one of the UK’s largest marketplace lenders in the process. It has funded the development of 4,846 homes across the UK.
In addition to funding housing developments, Assetz Capital funds care home construction, purpose-built student accommodation (PBSA) and provides commercial mortgages across a broad range of businesses – all with property as security for the loan.
ENDS
For more information:
British Business Investments
Scott Shearer
Senior Communications Manager
0203 772 1351 / 07770 704 761
Scott.Shearer@british-business-bank.co.ukLink opens in a new window
Suzanna Jebbitt
Corporate Communications Manager
07827 552 301
Suzanna.Jebbitt@british-business-bank.co.ukLink opens in a new window
Assetz Capital:
James Barber
jamesb@thisismc2.com
0161 236 1352
About Assetz Capital Limited
Assetz Capital is a peer-to-peer marketplace lender. It was founded in 2013 to deliver fairer lending to businesses and leading rates of interest to investors. To date, it has lent over £1 billion, while investors have earned over £100 million in total gross interest.
As the second largest peer-to-peer business lender in the UK, Assetz Capital has created a marketplace where British businesses can access capital, and lenders can invest in hundreds of property-secured SME loans at the click of a button.
Its 38,000 lenders include banks, institutions, businesses and retail investors. Lenders can access the marketplace directly through a number of investment accounts, and indirectly through a diverse range of funding channels.
Call Assetz Capital: 0800 470 0430 or visit www.assetzcapital.co.ukLink opens in a new window
Investors can find out more about Assetz Capital by visiting: www.assetzcapital.co.uk/how-it-works/Link opens in a new window
Borrowers can find out more about Assetz Capital by visiting: www.assetzcapital.co.uk/borrow/enquiriesLink opens in a new window
WEALTH WARNING: As with most forms of investment, marketplace lending carries a degree of risk to your capital; in this case, if borrowers were unable to repay their loans. At Assetz Capital, we seek to reduce this risk to our investors by taking asset security on every loan, with the added benefit of a discretionary Provision Fund for some of our investment accounts.
About British Business Investments
British Business Investments is the trading name of British Business Investments Ltd, a wholly-owned commercial subsidiary of British Business Bank plc, the UK government’s economic development bank. It forms part of the British Business Bank’s commercial arm.
British Business Investments aims to earn a commercial return by investing – through finance providers – in smaller businesses and small mid-caps, pursuing investments on a fully commercial basis without receiving any economic advantage from the government. Find out more at bbinv.co.uk.
British Business Bank plc and its subsidiary entities are not banking institutions and do not operate as such. Neither British Business Bank nor its principal operating subsidiaries are authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA). A complete legal structure chart for British Business Bank plc and its subsidiaries can be found on the British Business Bank plc website.
The investment from British Business Investments into Assetz Finance does not amount to any endorsement or warranty from British Business Investments, the British Business Bank plc, or the government of the UK.
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