10/01/2024

Pivot secures £70m funding from Foresight Group and Quilam Capital

The new funding package will allow the business to continue to scale and diversify its offering and grow its loan book.

Quilam Capital have invested in Pivot since December 2020, with the new investment committing a further £40m including significant working capital facilities to support expansion of the platforms technology capabilities and lending products.

Shahil Kotecha, CEO at Pivot, commented: “The affiliation with Quilam is more than a typical lender-borrower relationship and completing this transaction saw the synergies between the organisations and management teams harnessed.

“This partnership approach, and new support from Foresight, gives the business fantastic funding runway to support that market over the coming years and scale the Pivot platform.”

Alex Scott, director at Quilam Capital, added: “We are delighted to be able to continue our support for the Pivot platform with a new investment in the business and additional junior growth capital to grow the loan book.

“The management team and business has done tremendously well in recent years, through testing market conditions and this further investment is testament to that.”