The total funds were deployed across seven deals — the largest one being a £5m loan for a development project in Taunton.

The deals were completed during the first five months of trading since receiving FCA direct authorisation.

Sourced Capital has maintained 100% repayment on all capital and interest to investors on non-active loans.

Moving into the second half of the year, none of the current loan book is in default or distress.

In addition, the company has seen the number of registered, qualifying investors surge threefold in H1.

•   Hilltop launches real estate funding and management platform
•   Sourced Capital reveals £12m loan pipeline
•   Salboy and DOMIS complete £52m GDV scheme in Salford

Based on this and the strong demand from property developers looking to carry out refurbishment, mixed-use, and new build property schemes, Sourced Capital is set to surpass its projections for 2022, with a strong pipeline of new deals already in place.

Derek Pratt, commercial director at Sourced Capital (pictured above), said: “After a strong start to the year, we are excited to be witnessing ongoing growth and we are very well positioned for the remainder of 2022 and beyond.

“Sourced Capital benefits from a senior team with significant experience across the directly relevant sectors of property, finance and technology — this proven knowledge, when combined with rigorous due diligence and credit management processes, has enabled such a robust performance.”