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Tower Street Finance, based in Harrogate, specialists in estate loans, has successfully closed its latest funding round.
The round raised £18.2m in debt and equity, to fund growth through 2022. The total raised now stands at £36.2m.
In 2021, Tower Street Finance (TSF) has established relationships with leading practitioners in the inheritance industry, helping many clients and businesses.
Additional funding enabled the company to double its headcount in Q4 2021 with key hires in marketing, business development, operations and credit. This additional resource will ensure the company has the headcount it needs to deliver on its growth plans for the new year and beyond.
Tower Street Finance’s Chief Financial Officer, Jim Sisson, said: “We are extremely pleased to have successfully closed this latest funding round.
“The funds raised will help accelerate our plans and meet our growth aspirations through the first half of 2022 and beyond. The additional funding demonstrates continued confidence in the team, the industry and our business plan.
“We are extremely grateful to our shareholders and funders for their continued support.”
The money was raised from existing shareholders, including a London-based private equity and alternative credit fund provider. The TSF team was supported by DAC Beachcroft LLP, led by Chris Wall and Mike Pearce.