UK mortgage lender Perenna raises $52m on the back of its unrestricted banking licence
UK-based mortgage lender Perenna, which was granted an unrestricted banking licence from the FCA and PRA earlier this month, has secured $52 million in fresh funding.
Perenna raises $52 million in fresh funding
The equity investment comes from IAG Silverstripe, who exclusively led its $30 million Series A round in September 2022, as well as from the lender’s existing backers.
With the new funds, the newly-licenced bank aims to launch Perenna Mortgage, its long-term (20 to 30 year) fixed rate product, claiming a waitlist of over 5,000 customers already. Perenna says it will invite eligible waitlist applicants to apply over the following weeks, as it plans a broader public rollout towards the end of the year.
Arjan Verbeek, CEO and co-founder of Perenna, says the fundraise, which took place “against the backdrop of a challenging fundraising market” is “a clear testament” to its business approach.
“With over £3 trillion of investor monies having no efficient access to the UK mortgage market, our covered bond platform will unlock this, enabling them to generate sustainable risk-adjusted returns whilst also delivering better outcomes for homeowners across the country.”
