Kroo Bank has completed a loan portfolio acquisition and entered a forward flow funding arrangement with specialist bridging lender, Glenhawk.

The digital bank said that having built a series of successful consumer banking products, the latest move is part of a wider strategy to partner with established specialist lenders operating in other areas of the 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 firms.

Kroo said that property investors and developers often require tailored financing solutions that sit outside the standard criteria of high street banks, and that its partnership with Glenhawk would enable more investors to access sustainable finance.

Kroo Bank CEO, Veronika Lovett, said: “This partnership reflects Kroo’s strategy to diversify areas of the market that are often underserved and lack access to the funding they need. 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.”

Glenhawk CEO, Andrew Townsend, added: “We are delighted to have entered into a long-term partnership with such an innovative bank as Kroo.

“The partnership complements our other institutional warehouse and forward flow partnerships which together provide a strong funding base that enables us to meet the continued strong demand for our market leading bridging products.”

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