UK digital bank Kroo has completed a loan portfolio acquisition and entered into a forward flow funding arrangement with specialist bridging lender Glenhawk to support future lending across the UK property market.
Under the agreement, Kroo will acquire an existing portfolio of Glenhawk loans while also funding a portion of future bridge loan originations through an ongoing forward flow structure, creating a long-term funding partnership between the two businesses.
The transaction with Glenhawk is part of Kroo’s broader strategy to partner with established specialist lenders operating in other areas of the market that they believe are underserved, such as property.
“This partnership reflects Kroo Bank’s strategy to diversify areas of the market that are often underserved and lack access to the funding they need,” says Veronika Lovett, CEO at Kroo Bank.
“Glenhawk has an excellent track record in specialist property finance, and we’re proud to support their next phase of growth with stable, long-term funding. As we continue to grow, partnerships like this allow us to deploy capital into established sectors where experienced lenders are already delivering strong outcomes for borrowers across the UK.”
