Pollen Street Capital has announced a new £50m senior secured credit facility with probate lender, Tower Street Finance.
The facility will support Tower Street’s future growth in the UK and aims to enable more customers and practitioners to navigate the financial challenges of probate.
Founded in 2019, Tower Street is a regulated provider of lending products for the probate sector and helps both customers and practitioners who require financial solutions throughout the probate process.
Tower Street was advised by Andreas Wesemann of Ashcombe Advisors and DAC Beachcroft as legal counsel, and Pollen Street legal counsel was Eversheds Sutherland.
“I am delighted to have secured this new funding facility with Pollen Street Capital and would like to thank Matthew, Connor, Paul and the team for their support,” said Tower Street CEO, Robert Husband.
“Securing this backing ensures we have the funds in place to underpin our ambitious growth strategy and reaffirms our position as the leading provider of Probate Lending solutions in the UK.”
Partner at Pollen Street Capital, Matthew Potter, added: “We are delighted to partner with Tower Street Finance and support them as they work to help people around the country solve inheritance problems. Robert, Jim and the team have demonstrated strong growth and we are pleased that this new senior secured facility will help accelerate the business’ growth ambitions.”
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