VFS, which provides bridging finance for the legal services industry, has secured a credit facility of £20m (€25.74m) from OneSavings Bank (OSB) to finance further growth and development, said the firm.

VFS said it had also introduced a level of mezzanine funding to its original investor group of private equity, loan notes and P2P funds via Archover.

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Norman Kenvyn, VFS Founder and chief executive, said: "This initial facility from OSB in conjunction with our strengthened capital base will enable VFS to move forward at a more rapid rate and to help fill the funding gap for our clients in the legal profession."

OneSavings Bank, Steve Attree, head of secured finance, said: "We are delighted to be involved with VFS and provide a competitive funding structure that should enable VFS to increase its profitability and take advantage of the growing market."

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