Friday, March 29, 2024

Additional funding will support Tower Street Finance’s ambitious growth plans

Following a successful 2021, Tower Street Finance, the inheritance lending specialist, has successfully closed its latest funding round.

The latest round raised £18.2m of debt and equity, to fund growth through 2022. The total raised now stands at £36.2m.

2021 saw Tower Street Finance establish itself as the market leader in the sector, securing relationships with the leading practitioners in the probate sector, helping many customers and firms, and achieving an ‘excellent’ Trust Pilot rating for customer service.

Additional funding has enabled the business to double its headcount in Q4 2021 with key hires in Marketing, Business Development, Operations and Credit. This additional resource will ensure TSF has the headcount to deliver its growth plans for the new year and beyond.

Tower Street Finance’s Finance Director Jim Sisson said: “We’re really pleased to have successfully closed this latest funding round. Funds raised will help accelerate our plans and meet our growth aspirations through the first half of 2022 and beyond. The additional funding demonstrates continued faith in the team, sector and our business plan.”

“We are enormously grateful to our shareholders and debt-funders for their ongoing support.”

Funds were raised from existing shareholders, including a leading London-based private equity and alternative credit fund provider. The TSF team was supported by DAC Beachcroft LLP, led by Chris Wall and Mike Pearce.

Tower Street Finance is regulated as a Lender by the FCA and currently offers four products to help customers who are going through the probate process – Inheritance AdvanceIHT LoanEstate Expense Funding and Inheritance Dispute Funding.

Tower Street Finance’s business development director Dicky Davies says: “Our products were designed in conjunction with feedback from probate professionals and the firms we’re partnered with tell us our products add to their service proposition, whilst saving time and cost. In particular our funding can help unlock problem estates which are asset rich and cash poor.”

Find out more about partnering with TSF at https://towerstreetfinance.co.uk/partner-with-us/, email info@towerstreetfinance.co.uk or call 0343 504 7100.

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 pandemichaving a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £31.50 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.








Latest news

Related news