Perenna has concluded a $52 million fundraise just weeks after the lender secured its UK banking licence.

Recurrent investor Silverstripe Investment Management led the latest round, which also featured participation from others existing investors, bringing the total amount raised to almost $90 million since 2020.

“This successful fundraise, set against the backdrop of a challenging fundraising market is a clear testament to the strength of our unique approach and the significant opportunity to reimagine the structure of the UK mortgage market,” said Perenna chief executive and co-founder Arjan Verbeek. “With over £3 trn of investor monies having no efficient access to the UK mortgage market, our covered bond platform will unlock this, enabling them to generate sustainable risk-adjusted returns whilst also delivering better outcomes for homeowners across the country.”

On receipt of its UK banking licence at the start of September, Perenna said reaching the milestone would allow it to introduce its long-term fixed rate mortgage products to the UK.

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