Specialist lender Pivot has secured a £15m investment from finance firm Quilam Capital to increase its unregulated bridging and development finance offering.

The funding will support the senior facility Pivot has renewed and enhanced with Shawbrook Bank.

Pivot, which launched in 2012, says there is also a specific capital contribution being made by Quilam to enable the business to grow its operating model and specifically its data analysis tools.

Pivot chief executive Shahil Kotecha says: “The affiliation with Quilam is more than a typical lender-borrower relationship and whilst completing the transaction during lockdown had its challenges, the synergies between the organisations and management teams were harnessed. This partnership approach, and continued support from Shawbrook, will be vital in growing the Pivot business in 2021 and beyond.”

Quilam partner Marc Sefton says: “We are excited to be able to add Pivot to our roster of portfolio companies. We have known the management team for a while and have been particularly impressed by how Pivot underwrites transactions, using tools that we haven’t seen across the market.

“The result has been a strong performance of its existing loan book and we will be working with the team to build on this solid foundation and accelerate growth materially in 2021 and beyond.”

Shawbrook senior relationship director Warren Mutch says: “Pivot present an impressive lending proposition, which we’re delighted to continue to support. The fact that we were happy to extend with them again shows our commitment to the business and their desire to build out their development proposition, which will be key in providing liquidity to the much-needed SME developer market.”