British Business Investments, a wholly-owned commercial subsidiary of the British Business Bank, aims “to increase the supply and diversity of finance for smaller businesses across the UK by boosting the lending capacity of a range of finance providers.”
Since it was established in 2014, British Business Investments has “committed more than £3.3 billion to providers of finance to UK smaller businesses.”
CrowdProperty’s mission is “to transform property finance to unlock the potential of small and medium sized property developers to build more, much needed and under-supplied homes.”
CrowdProperty’s customer-centric funding proposition and property expertise “help developers grow their businesses more quickly.”
CrowdProperty has “supported the development of more than 3,000 homes worth over £675m to date, throughout Great Britain, with 94% of lending in the regions outside of London.”
Judith Hartley, CEO, British Business Investments, said:
“Our commitment to CrowdProperty will help increase access to finance for smaller housing developers, particularly in the regions outside of London. Supporting independent operators such as CrowdProperty contributes to British Business Investments’ mission to increase the diversity and supply of finance for smaller businesses across the UK.’’
Mike Bristow, Founder and CEO, CrowdProperty, said:
“We’re delighted to be adding British Business Investments as a CrowdProperty lending partner. This is another step forward for us as a business that was founded to better support the projects and developers that deserve funding. We look forward to seeing the partnership flourish over the long term, as we support more housebuilding and help increase spend in the economy on labour, materials and services.”
As reported earlier this year, CrowdProperty’s new 3-year growth strategy is being supported by the firm’s decision to appoint Adrian Gurnell as Chief Technology Officer and Sid Khan as Program Manager.
Adrian is “a senior technology leader who brings 20+ years’ experience across multiple sectors including Financial Services, Energy, Retail and Government.” He has “led Technology transformation at national and international level for Accenture, Barclays, Fiserv and the Financial Conduct Authority.”
Since 2017, Adrian has “focused on the dynamic UK Fintech sector: leading DivideBuy Technology through a significant 3-year growth period as the fastest growing UK Fintech, and more recently as CIO at Chetwood Financial, the disruptive digital bank backed by Elliot Advisors.”
