From May, Octane Capital will offer residential and commercial bridging loans, medium-term buy-to-let products and development finance at competitive rates.

The new lender will be a joint venture with Pamplona Capital Management, which currently manages funds in excess of $5bn (approximately £4bn) from offices in London, New York and Boston.

Nitin Bhandari, partner at Pamplona Capital Management, added: "We are very pleased to be partnering with Jonathan and the Octane Capital team, whose experience and ability in this market are second to none.

“I have no doubt that Octane Capital will make rapid inroads into the specialist lending sector and it will have our full support and funding to do exactly that.”

Octane Capital is not the first company to have been founded by Jonathan since leaving Dragonfly in 2015, following the launch of Upfront Car Finance in September last year.

Jonathan will be reunited at Octane with Mark Posniak and Matt Smith, who join as managing director and director of risk respectively following their departure from Octopus Property in November.

•   Mark Posniak and Matt Smith leave Octopus Property
•   Jonathan Samuels secures £3.5m from P2P platform for new venture
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Tom Clark – former head of bridging at Wellesley and senior development manager at Shawbrook Bank – and Robert Graham also join as sales director and head of finance respectively.

Octane Capital’s initial product range will be announced in May.

It is set to include a full range of specialist lending products and will focus on complex, non-standard and larger-than-average loans.

The company will source its loans primarily through master brokers.

Jonathan, who will take on the role of CEO at Octane Capital, added: "It's fantastic to be back in the industry and working again with some of the most respected names in specialist property finance.

“In Pamplona, we have an exceptionally strong and experienced funding partner that will position us well from the outset and enable us to lend at will.

“Our focus will be on complex, non-standard loans that are outside the comfort zone of most other lenders, but which we believe play to our strengths.

“We are certainly not here to make up the numbers.”

Octane Capital is now seeking to expand its team.

Interested parties with a proven track record in development, credit and sales should contact [email protected].

Pictured above, left to right: Jamie Oxley, credit manager, Rob Graham, head of finance, Mark Posniak, managing director, Jonathan Samuels, CEO, Tom Clark, sales director, and Matt Smith, director of risk.