Lovey secures £250m credit facility with Pollen Street Capital

UK-based fintech provider Lovey has announced its largest funding facility to date, securing a senior secured credit facility of up to £250 million with alternative asset manager Pollen Street Capital.

The facility consists of £50 million in committed capital and a £200 million accordion. This capital is intended to increase Lovey’s lending capacity, allowing the company to scale its own-book lending while expanding its existing brokerage services for small and medium-sized enterprises (SMEs).

Founded in 2016 by Jack Smith, Lovey has grown to 120 employees and has provided more than £600 million in loans to over 11,000 UK SMEs. The company began direct balance sheet lending in 2022 to complement its established brokerage model.