London-based Pivot secures €80M+ funding commitment: Know more

London-based Pivot Finance, a platform providing real estate loans, announced on Friday, January 5, that it has secured £70M (approximately €81.4M) funding commitment from Foresight Group and Quilam Capital.

As a part of the funding round, Foresight Group will provide senior debt, while Quilam will offer junior capital and equity of £40M, including significant working capital facilities to support the expansion of the platform’s technology capabilities and lending products. 

The new funding will allow the company to continue to scale and diversify this offering and grow its loan book.

Shahil Kotecha, CEO of Pivot, comments, “The affiliation with Quilam is more than a typical lender-borrower relationship, and completing this transaction saw the synergies between the organisations and management teams harnessed. This partnership approach, and new support from Foresight, give the business a fantastic funding runway to support that market over the coming years and scale the Pivot platform.”

Pivot Finances: Making borrowing simple 

Founded in 2012, Pivot provides short-term real estate loans supporting hundreds of developers and clients and delivering thousands of homes and units across the UK.

The company was established with the mission of making the borrowing process as simple as possible. 

The platform specialises in lending facilities across the development lifecycle, from bridge loans against consented land to ground-up development and development exit facilities.

The investors

Quilam is a specialist growth investor, offering experienced support to portfolio companies operating in the specialty and alternative finance market. 

Quilam has over £600M of funds under management, across 18 investments. Quilam Capital has been invested in Pivot since December 2020 and has an established and longstanding relationship with the management team. 

Alex Scott, Director at Quilam Capital, says “We are delighted to be able to continue our support for the Pivot platform with a new investment in the business and additional junior growth capital to grow the loan book. The management team and business have done tremendously well in recent years, through testing market conditions and this further investment is a testament to that. Demand in the UK to fund and support quality developers and schemes is significant and the new combined funding package will allow the platform to continue to grow and expand this offering.” 

Foresight Group is a sustainability-led alternative investment manager with £12.2B of assets under management. The company’s Private Credit strategy offers secured wholesale loan facilities to alternative lenders, designing bespoke facilities to enable innovative finance businesses to scale and better serve their customers.

Oliver Bates, Senior Private Debt Manager at Foresight, says, “Pivot presents an impressive lending proposition, which we’re delighted to support. We have a good grasp of the development finance market, and the Pivot business model stands out in terms of the people, processes, and data tools they use. We are committed to the business and their desire to build out their development proposition, which will be key in providing liquidity to the much-needed SME developer market.”