Avamore Capital

Avamore passes £100m of lending




Avamore Capital has revealed that it has passed the £100m lending milestone.

The lender — which was founded in January 2016 — has grown its loan book significantly over the past three years.

It reached the landmark figure following its latest loan, a development facility for around £2.2.m in Sittingbourne, Kent.

Avamore has grown its team from three to 12 members — expanding its asset management, underwriting and credit teams — and expects to hire an additional four people across all business areas.

The lender now plans to accelerate its growth further and almost double its loan book within the next 12 months.

Zuhair Mirza, principal and co-founder of Avamore, said: “We are incredibly proud to have reached this significant milestone in our business.

“We started Avamore Capital as a family office-backed lender and one of our biggest achievements has been building up a strong and stable loan book which has led us to become an institutionally funded lender.

“We will always maintain varied funding lines so that we can remain agile and dynamic in today’s market and are excited to see the direction the business will take in the coming years.

“We are grateful to everyone that has contributed to our success and we hope that Avamore, our clients, broking partners and vendors will go from strength to strength.”

Michael Dean, principal and co-founder of Avamore, added: “I would like to take this opportunity to thank the Avamore team for contributing to the growth of this business and also acknowledge the fundamental role all of our broking partners and service providers have played in completing each and every deal.

“At Avamore, we have always recognised that lending is a collaborative process and without our third-party service providers, we could not have reached the point which we are at today.

“We look forward to deepening and strengthening relationships further in the market and building new connections with those which we have not had the chance to work with yet.”

Pictured above (l-r): Amit Majithia, Zuhair Mirza, Michael Dean and Nikolay Petkov

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