Market Financial Solutions (MFS) has secured £250 million of new funding from an institutional investor.

The funding is from one of the existing global financial institutions already backing MFS.

With multiple dedicated funding lines, MFS says it will use the additional funding capacity to grow its loan book to £1 billion by 2023. Large bridging loans and buy-to-let mortgages will be two key areas of growth.

Paresh Raja (pictured), CEO of MFS, said: “We’re delighted to have secured this additional £250 million funding from one of our well-respected global investors. It will greatly accelerate growth across our bridging and buy-to-let product lines, allowing us to fulfil our goal of increasing MFS’s loan book to £1 billion by early 2023.

“That we have existing investors keen to increase their funding into MFS underlines the strength of the business. Not only are we experiencing high demand from brokers and borrowers – particularly for large loans, buy-to-let mortgages and complex deals – but we also have highly efficient operations.

“We can lend quickly and with the lowest default rate on track, exemplifying the quality of the loans and management of them.”