Optimum Credit has raised £256m via a securitisation transaction which it hopes will further grow its second charge market share of more than 20%.
Founded in 2013 and backed by Patron Capital Partners, the Cardiff-based firm now employs around 80 staff in the Welsh capital and recently announced the next phase of its growth through the establishment of a direct to consumer lending division.
Chief executive Sam Marshall says that the deal gives him confidence that the next few years will bring even more success for Optimum.
He said: “This is a significant milestone in the development of Optimum Credit and is testament to both the quality of the management team and the business we have built since originating our first loan back in June 2014. It will allow us to continue the development of our business as we seek to not only increase our prime second lien origination but also add new product lines.”
Barnaby Brand, Optimum’s finance director, added: “This is the first time that a second charge mortgage lender has accessed the capital markets in this way for 13 years. Our monthly lending has doubled in the past year, and this transaction secures the funding that we need for continued growth.”