Tomer Aboody and Joshua Elash are the co-founders of property finance company MT Finance which launched in 2008. The company offer bridging loans to help individuals and companies to bridge the gap between the purchase of something (i.e. property) and the point of sale. Those looking to complete on a property within a tight deadline can apply for bridging finance to receive funds upfront (often within four weeks) and then repay upon the sale of the new or existing property.
Entrepreneur Tomer Aboody began working in property investments and trading and saw a gap in the market for people looking for finance, realising that there was not enough money going around and not enough being lent out by traditional banks.
Joshua Elash worked as an attorney in New York and spent a couple of years at a large European, real estate investment fund based in Paris, France as an Associate Director working with leading investment banks and pension funds from across Europe.
He moved into the bridging finance industry in 2008 after seeing the markets turn upside down and a sudden a lack of liquidity prevented institutions from lending. Both founders are keen sports fans, with Aboody a keen footballer in his spare time. The company is decorated with sports memorabilia and signed shirts including Maradona and Pele.
Last year, MT Finance announced that it had raised up to £50m of senior funding from funds managed by Insight Investment alongside mezzanine funding from an unnamed UK fund manager.
The new lines further diversify the funding structure of the business that currently includes a £125m committed forward-flow arrangement with a Global Institutional Investment Manager, as well as almost £100m from a portfolio of high-net-worth individuals.
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Working in the short-term lending sector, MT Finance has been recognised with a number of accolades including The Business MoneyFacts Best Service 2019, Best Short Term Lender 2019 from Financial Reporter and Mortgage Strategy. The team’s head office is currently based in Holborn, London and is home to over 40 members of staff.