The funding was arranged following an introduction from broker Jack Weston of Portman Finance Group and was led by Momenta’s sales director Tom Shave.
The new funding will allow Momenta to offer loans from 7% per annum and provide longer repayment periods.
Butt brings a wealth of experience from the banking sector, having spent over three years at Metro Bank as a relationship business manager.
Forrest said: “I look forward to working with the wider team to drive the next phase of growth.”
Boag said: “I look forward to contributing to its ambition to become the UK’s leading non-bank SME specialist lending platform.”