Tower Street Finance (TSF) has completed its first debt raise which will provide additional funding for its initial product, Inheritance Advance.
The deal is with a leading London-based private credit firm. The TSF team was supported by DAC Beachcroft LLP led by Chris Wall and Mike Pearce.
Inheritance advance is a unique product which allows beneficiaries access their inheritance earlier, without having to wait for the lengthy probate process to complete. It’s underwritten on the value of the inheritance, not the customer or their assets.
Commenting on the deal TSF’s CFO Jim Sisson said: “We’re really pleased to close this first transaction. As well as providing considerable additional funding headroom that will benefit our customers, it’s great to work in partnership with such a well-established, supportive funding team.
“We look forward growing the distribution of our Inheritance Advance product, as well as bringing further unique products and services to the market.”