Shawbrook has increased its funding for bridging and development lender Colenko to a £15m facility.

The increased funding line is to help with Colenko’s growth in the UK housing market.

The £15m deal was completed in four weeks.

Shawbrook initially partnered with Colenko in June 2022, providing a funding line to support its operations.

Shawbrook associate director Liam McGall says: “Colenko has consistently impressed us with its growth and innovation over the past two years. Their focus on technology and exceptional customer relationships sets them apart in a competitive market. We’re delighted to extend our partnership and support them as they continue their impressive growth journey.”

Colenko chief executive officer Rob Roscoe adds: “Shawbrook has been a key partner in our success, and we’re thrilled to deepen our relationship. Their agility and flexibility in completing this deal have been outstanding. This funding will enable us to launch new, innovative products and sustain our upward momentum in the market.”