Pluto Finance has opened its first UK regional office in Edinburgh as the private credit platform deepens its commitment to the Scottish property market.

It signals the firm’s long-term intention to support developers across Scotland with bespoke lending solutions.

The new office, located at 26 Alva Street, will be led by Jamie Drummond, recently appointed as lending director for Scotland. Since joining Pluto in March 2025, Drummond has built a robust pipeline of deals expected to support the development of more than 2,000 homes, alongside new logistics and office space. These projects are expected to contribute significantly to local employment, regional supply chains and the broader economy.

CHALLENGES

Pluto’s expansion north of the border comes as the Scottish development market faces ongoing challenges in accessing finance. SME developers in particular have been hit hard by the retrenchment of banks, while new build completions continue to fall short of government targets.

The number of homes started is now at its lowest level in two decades, underlining the urgent need for alternative sources of funding.

Drummond said: “The Scottish market provides a considerable opportunity for tailored development finance, driven by strong demand from SME developers and a clear gap left by the withdrawal of traditional banks.

“Pluto’s ability to provide fast, flexible and structured capital allows us to support a broad spectrum of development projects. We are one of the few lenders able to serve both large corporate and SME borrowers, offering leverage and pricing solutions that compete effectively with high street banks, challenger lenders and alternative finance providers.

“Establishing a permanent presence in Edinburgh strengthens our ability to deploy capital efficiently and reflects Pluto’s long-term commitment to the country’s housing delivery.”

Pluto’s loans range in size from £5 million to £100 million and are designed to provide flexible capital for development projects of all scales. The firm’s entry into the Scottish market follows increasing demand from both its investor base and developer clients for a more tailored, regionally focused approach.

Justin Faiz, chief executive of Pluto Finance, added: “Our decision to open in Edinburgh and appoint Jamie reflects the scale of the opportunity in Scotland.

“The Scottish housing market and wider commercial development market needs new sources of funding and we are committed to deploying capital here.

“Our new office will play a key role in helping us support local developers, strengthen local supply chains, and accelerate the much-needed delivery of new homes.”