CapitalRise has made six new hires to support its fast growth, in a record week for loan completions.
The firm has welcomed Raf Chowdhury (associate director) and Ryan Parrett (lending director) to help guide the company through this period of fast growth, alongside Tony Humphreys (credit manager) to support the lending opportunities.
CapitalRise also welcomes Julia Sinclair (head of product), Philip Whiting (head of marketing) and Flora Snape (marketing manager) to its marketing team.
Uma Rajah, CEO and co-founder at CapitalRise, said: “Our new team members have made an immediate impact, and we look forward to further capitalising on their valuable experience and skillsets to propel our business to the next level.”
Additionally, the firm surpassed various credit records in October, including processing several deals that equated to over £50m in a single week.
The business also achieved a record-breaking week for completions with three completions in a week, totalling £21.5m of loan origination.
The credit committee was also deployed every day in a single week for the first time in the firm’s history to respond to this demand.
The firm credits the impressive deal flow to its prudent lending approach and rigorous due diligence, alongside the resilience of the Prime Central London, Prime Outer London, and Prime Home counties markets.
The news follows the announcement in mid-October that CapitalRise had originated over £200m worth of loans, funding developments across London and the Home Counties to the value of over £640m.
The firm lent just under half (£99m) of this milestone figure in the twelve months to the end of June 2022 – a 252% increase on the value of loans originated in the year prior.
Rajah added: “As this record week for deals shows, we have seen a huge amount of demand.
“This reflects the fact that there are great opportunities for both developers and investors in the prime market – a particularly resilient part of the wider UK market that has its own distinct property cycle.
“As a challenger lender, we understand the need to be responsive. As such, our credit committee works closely with our lending team to ensure we can meet the high demand we’re currently experiencing.
“Our credit committee, which usually sits twice a week and can be called on-demand by our lending team, had to increase to daily credit meetings on occasion in October to support our borrowers – and enable them to take advantage of the opportunities they are seeing in the market.”
