GB Bank To Accelerate Growth Following £85 Million Funding Round

GB Bank, which helps small property developers and investors fund their projects, has received £85 million in extra funds. Moreover, this extra fund was disbursed by a new investor, Hera Holdings, and an existing investor, the Teesside Pension Fund.

GB Bank Aims To Significantly Grow Its Lending Capabilities

Hera Holdings, a company based in Jersey, is investing an initial £40 million into GB Bank over the next year. Hera Holdings also plans to invest another £40 million in 2025 and 2026. This will help GB Bank increase its funds for regeneration projects and property investments across the UK.

Stephen Lancaster, GB Bank Chief Executive Officer and Co-Founder stated that this is great news for GB Bank and everyone who has backed their goals from the start. It shows the hard work of every team member.

He further stated that the team is happy to have helped many investors, property developers, and brokers grow their property portfolios with their flexible funding options. The platform also thanks its savings customers who have trusted them with their money and earned good returns.

Furthermore, this investment helps give more property developers and investors the important funding they need while still providing excellent customer service, which has been the firm’s initial focus.

The Teesside Pension Fund, for local government workers in the Teesside area, was one of the first investors in GB Bank. Now, it is adding another £5 million to its investment.

GB Bank Seeks To Offer Flexible Financing Solutions

The Chairman of the Teesside Pension Fund Committee, Councillor Julia Rostron, stated that his team has supported GB Bank’s business model and its goals from the beginning. Teesside Pension has backed GB Bank through its full banking approval and into successful operation.

With Hera Holdings now involved, the bank’s lending abilities have greatly improved, speeding up its future success.

Rostron added that their ongoing support for GB Bank shows its great progress and immense potential for the future.

The expansion will allow GB Bank to quickly grow its lending potential, providing loans up to £10 million and 80% Loan To Value. The investment will bring in more customers, including foreign nationals, portfolio landlords, and ex-pats.

Additionally, it will increase capacity for residential bridging and popular commercial loans and offer more investment and commercial owner-occupier mortgages.