Blend, a specialist in development finance lending, has announced the acquisition of a new funding line exceeding £50m from an unnamed institutional investor. This financial injection is set to broaden the range of bridging products available to its property developer clientele, aiming to bolster support throughout varying market conditions.

Yann Murciano, Chief Executive of Blend, highlighted the company’s commitment to aiding developers facing prolonged sales cycles and increased pressures from existing lenders. The initiative comes in response to the challenges within the property market over the last year and a half, where developers have encountered difficulties in meeting sales targets due to slow market movement and expiring loan facilities.

This announcement follows a period of significant activity for Blend, which reported a record quarter in the last three months of 2023. The platform successfully financed diverse property development projects, including the transformation of a Grade II listed building into residential units in Saffron Walden and the development of apartments in Devon.

Murciano emphasized Blend’s reputation as a reliable lender throughout various market cycles, understanding the complexities of property development and the challenges faced by developers. This new funding line is intended to enhance Blend’s capacity to support developers, reinforcing its position alongside existing investments from institutional and family office investors. In April 2022, Blend previously secured a £120m funding line from a consortium of family offices, aimed at expanding its loan portfolio.