Masthaven, the UK specialist bank, and Värde Partners, a leading global alternative investment firm, today announced the completion of the strategic £60 million equity investment by Värde Partners in Masthaven announced in September 2018.
The completion of the investment will enable the bank to deliver against its strategic ambition to become one of the leading specialist banks in UK residential and SME markets.
The £60m equity investment from Värde Partners, along with the bank’s existing capital base, will enable Masthaven to significantly increase lending to consumers and SMEs over the next 3 to 5 years as well as provide innovative deposit options to its customers.
By serving borrowers without access to the traditional high street banks, Masthaven has demonstrated significant growth in its market niches – namely retail savings, SME lending, and short / long-term property financing across commercial, buy-to-let and specialist residential real estate. Masthaven was also recognised as the 2018 Most Innovative Digital Retail Bank UK by CFI.
Värde Partners manages $14bn in assets and has more than 20 years of experience investing in consumer and commercial credit in the financial services sector.
Andrew Bloom, Masthaven’s founder and CEO, said:
“Masthaven has made tremendous strides in the past few years. We have successfully launched specialist residential and buy-to-let mortgages plus bolstered our savings suite by entering the SME savings market, all while growing our team to above 170 people and with a balance sheet in excess of £750m. Now it’s time for us to further enhance our propositions for both our existing customers and intermediary partners as well as our future clients. Masthaven will deploy the Värde Partners investment to bring more capacity to the UK market and enable us to innovate in terms of both our savings and lending propositions.”
Elena Lieskovska, Partner and Head of European Financial Services at Värde Partners, said:
“At Värde, we are active in our portfolio companies, favouring the partnership approach to creating value, and that’s exactly how we expect to work with the Masthaven team.”