Paxton Private Finance, a London-based short-term finance provider, has secured £30m (36.54m) in funding.
A high net-worth family funder is said by media reports to be behind the ongoing funding facility, which Paxton says it will put towards expanding in London and the Home Counties.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Secured in 2010 and funded by its own Paxton Secured Income Fund, the lender says it will use the capital to expand its range of products aimed at the short-term finance market.
The provider has said its new range will provide loans above £500,000, and with interest rates starting from 1% it hopes the funding line will galvanise an increase in business.
David Kinane, partner at Paxton, said: "This new funding line allows us to consolidate existing relationships and to create new ones within the introducer base."
"It is a very competitively priced, non-status product that sits well in the market place."
