Shawbrook has provided an increased funding facility of £15m to Colenko Limited, a bridging and development lender, to strengthen its financial position.
Founded in 2017, Colenko specialises in bridging and development loans for property investors and developers.
Shawbrook initially partnered with Colenko in June 2022 to support its operations.
Colenko’s growth prompted the need for additional funding to meet rising demand, and the £15m deal was completed in four weeks.
Liam McGall, associate director at Shawbrook, said: “Colenko has consistently impressed us with its growth and innovation over the past two years.
“Their focus on technology and exceptional customer relationships sets them apart in a competitive market.
“We’re delighted to extend our partnership and support them as they continue their impressive growth journey.”
Rob Roscoe, CEO of Colenko, added: “Shawbrook has been a key partner in our success, and we’re thrilled to deepen our relationship.
“Their agility and flexibility in completing this deal have been outstanding.
“This funding will enable us to launch new, innovative products and sustain our upward momentum in the market.”
