Direct lender BondMason has today announced a £1.85m raise as part of an investment fundraising round led by Seneca Partners and Par Equity, aimed at driving business growth and improving user acquisition.
The platform saw its growth triple over the last twelve months as it put a strong focus on client services, and is now looking to expand its product suite as it moves forward. The round itself was open to new and existing shareholders, and ended up being oversubscribed by 50 per cent.
“We’ve received significant interest from both new and existing shareholders for this fundraising, which represents a strong endorsement of our business strategy,” said BondMason CEO Stephen Findlay.
“We’re delighted to announce that Seneca Partners and Par Equity led the investment round – two of the UK’s leading EIS investment managers. We’re also excited to have a number of private investors participating in the round as well. This is a key milestone for the business and marks the next chapter in our journey.”
Since 2015, BondMason has facilitated a total investment of £35m across 6,000 lending opportunities, resulting in over £1m of interest payments to its clients.
BondMason is expecting to launch a suite of Fixed Term Bonds and an IFISA later this year, alongside making improvements to its user experience and SIPP/SSAS services.
John Davies, investment director at Seneca Partners, added: “At Seneca, we invest in growth opportunities where we are able to deliver returns for our investors. BondMason is a great example of the types of businesses we like to work with. Stephen Findlay and the team have established an exceptional, soundly managed business and we’re excited about the prospect of helping the company to achieve their growth potential.”