Kroo Bank has agreed a forward flow funding arrangement with specialist lender 9Y Capital to support bridging and refurbishment lending across the UK property market.
The digital bank will fund a portion of 9Y Capital’s future bridge and refurbishment loan originations under the continuing arrangement, establishing a long-term funding partnership between the businesses.
The deal will allow Kroo to diversify its lending exposure while providing 9Y Capital with funding for loans to property investors and developers whose requirements fall outside standard high street lending criteria.
9Y Capital was founded in 2023 by Stephen Johnson and Karen Bennett and provides specialist finance to experienced property investors and developers.
Veronika Lovett, chief executive officer at Kroo Bank, says: “This partnership with 9Y reflects Kroo Bank’s strategy to expand our lending offering for customers through carefully selected partnerships.
“The 9Y team have 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 Kroo continues to scale, partnerships like this strengthen our ability to deploy capital into established sectors, supporting experienced lenders in delivering strong outcomes for borrowers across the UK.”
Johnson, managing director and co-founder at 9Y Capital, adds: “We’re delighted to partner with Kroo Bank on this forward flow arrangement. Kroo’s flexibility and pace as a digital bank make them a natural fit for how we work with our own clients.
“Concluding our fifth institutional funding arrangement is a great milestone for the team, and we’re excited about the opportunities the long-term relationship with Kroo provides as we continue to invest in scaling the business.”
