Shawbrook has fortified Colenko Limited with a £15 million funding facility, marking a significant boost for the property lender.
- Colenko Limited, established in 2017, focuses on providing bridging and development loans to property investors and developers, underscoring its pivotal role in the sector.
- The partnership between Shawbrook and Colenko, initiated in June 2022, has evolved, necessitating increased funding to address rising demand.
- This £15 million deal was effectively concluded within a swift four-week period, highlighting the agility of both parties.
- Key figures from Shawbrook and Colenko have expressed mutual satisfaction with the partnership and its promising future.
Shawbrook has recently extended a £15 million funding facility to Colenko Limited, a move designed to bolster the financial standing of this burgeoning property lender. Colenko, a company founded in 2017, specialises in providing bridging and development loans, primarily aiding property investors and developers. This strategic alliance highlights Shawbrook’s commitment to supporting innovative financial solutions within the property market.
Colenko initially partnered with Shawbrook in June 2022. Since then, the growth of Colenko has been significant enough to warrant additional funding, which was required to meet the increasing demand for its services. The company’s focus has been on leveraging technology and forging strong customer relationships, factors that have distinguished it in a competitive market.
The process of securing this new funding was concluded efficiently within four weeks, a testament to the agility and effective collaboration between Shawbrook and Colenko. Shawbrook’s associate director, Liam McGall, highlighted the impressive growth and innovation that Colenko has demonstrated over the past two years. He pointed out the company’s technological focus and excellent customer relations as key enablers of their success.
Rob Roscoe, CEO of Colenko, reflected on the deepened relationship with Shawbrook, appreciating their agility and flexibility in facilitating the deal. This funding aims at launching new, innovative products, ensuring that Colenko can maintain its trajectory in the market. The support from Shawbrook is seen as crucial in fostering Colenko’s continued upward momentum.
This strategic funding significantly enhances Colenko’s position and prospects in the property lending market.
