Level, a UK-based and FCA-regulated lender operating in the family and private client law sectors, has secured a £5m equity investment from private equity firm Kendal Capital and acquired probate finance provider Tower Street Finance.
The firm has also secured additional £5m debt investment from Correlation Risk Partners to support its growth plans.
According to a press release, the acquisition of Tower Street Finance gives Level a presence in a new market which is forecast to grow rapidly due to lengthy probate service processing delays and the cost-of-living crisis.
Probate lending enables beneficiaries to access funds to pay IHT bills before probate is granted or liquid assets such as property or land are sold.
