16th June 2023

Momenta Finance Raises £115m of Funding

The recent funding secured by Momenta Finance marks a significant milestone in their journey towards expanding their lending books. This infusion of funds further strengthens their existing suite of senior funding lines, enabling them to provide even more comprehensive financial solutions to their clients.

Bolstering Lending Books and Position in Evolving SME Market

Momenta Finance is delighted to announce £115m of additional funding from Barclays Bank PLC and new partner Quilam Capital.

The funding will be used to grow its lending books across its secured and unsecured products. This will add to its existing senior funding lines.

Since 2013, Momenta Finance has been steadfastly providing secured and unsecured business loans to SMEs on a UK-wide basis. The business, which secured British Business Bank accreditation for CBILS & RLS lending respectively, added bridging and secured loans to its offering in 2020. An area in which it has achieved good success to date.

Challenging market conditions have seen a continued retrenchment of traditional high street lenders and alternative funders in the SME lending space. Momenta Finance is now well positioned to grow in this market.

Jonathan Stern, Co-Founder and Chief Financial Officer of Momenta Finance, commented:

“We are extremely proud to have secured such significant funding lines from two prestigious partners in difficult market conditions. The funding package consists of a combination of senior and junior capital. Allowing for an even more compelling product offering. We have already funded our first deals using this capacity and the market reaction to our improved products has been extremely positive”.

Matt Glew, Director at Quilam Capital stated:

“We are very happy to be supporting Momenta Finance into what we expect to be a very exciting next stage of its journey. Despite the current headwinds, there remains significant market opportunity in the SME space. Which the business is now in a prime position to fully capitalise on. We have been very impressed by the ambitions of the management team and are looking forward to seeing our capital deployed in order to help achieve their goals.”

Sean White, MD of Securitised Products at Barclays, commented:

“We are delighted to support Momenta Finance with a new senior warehouse facility that will assist in funding the business’s growth plans in the UK SME sector. Our strategy in the Corporate and Investment Bank is grounded in delivering for clients.”

Behind the scenes, Momenta Finance has been working hard to ensure the business is in the best shape possible to deploy this additional capital. This involved the recruitment of fifteen additional members of staff across a broad range of functions. Introducing open banking and launching a new online broker portal.

Luke Jooste, CEO of Momenta Finance commented:

“Despite the likelihood of a tough trading environment during 2023, our goal remains to support the UK SME sector. Alongside our supportive founding shareholders, this new funding will fuel the next phase in Momenta Finances growth aspirations. We are incredibly excited to be partnering with Quilam who bring a wealth of knowledge and expertise in the specialist lending space”.

About Momenta Finance

Momenta Finance, formerly Merchant Money, is a leading provider of alternative finance solutions headquartered in London, United Kingdom. Established in 2013, Momenta Finance offers a panorama of lending options, including unsecured and secured business finance, bridging loans, and business cash advances. The company’s commitment to transparency, tailored credible funding has made it a trusted partner for businesses seeking financial support. Momenta Finance is accredited by the British Business Bank and upholds the highest industry standards.