The funding will be used for development finance loans and SME commercial mortgages originated by the P2P marketplace platform.

It is claimed that the investment will support in excess of £100m of new lending to SMEs and housing developers.

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Stuart Law, CEO at Assetz Capital (pictured above), said: "The support of British Business Investments is a further milestone in this mission, and we are grateful for its new backing towards our continuing commitment to addressing the housing crisis and SME funding gap. 

“It’s a testament to the impact that can be delivered by Assetz Capital and a welcome addition to our growing stream of institutional funding sources, including other banks and investment funds.”

Catherine Lewis La Torre, CEO at British Business Investments, commented: “By providing finance to smaller housebuilders, we’re able to help them to fulfil their growth plans and increase the country’s new housing stock.”