The London-based merchant bank completed the funding for Proplend to accelerate the online lending platform’s growth over the next five years.

Proplend is one of the few fintech peer-to-peer platforms fully qualified by HMRC to take in tax efficient Isa money, giving the company access to facilitate loans on an estimated £270bn of cash Isa funds.

Proplend’s current investors include Eamonn O’Hare, former CFO of Virgin Media, and Peter Johnson, the founder and former chairman of Park Group.

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Chris Pearson, head of special situations and corporate advisory at Salamanca Group (pictured above), said: “We are thrilled to complete the initial funding round for the UK leader in the commercial online lending marketplace from private investors.

“As we progress into the Series B fund raise, our focus will switch to institutional investors.

“We look forward to continuing to work with Proplend as they continue to grow their business."

Brian Bartaby, the founder and CEO at Proplend, added: “Proplend continues to prosper by combining a first-class product in an underserviced sector, with a first-class senior team, which has sustained growth reputationally and operationally within the business.

“This critical stage of funding unlocks further potential to elevate the business to the next stage – an exciting period where we expect to grow rapidly.

“We appreciate the ongoing support from shareholders and welcome new investors to our growing company."