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Redwood Bank, one of the fastest Challenger Banks to reach profitability, was set up to support the growth of small and medium sized organisations by offering fast and simple business mortgage products.
The Bank’s CEO and Co-Founder, Gary Wilkinson, said: “We’ve celebrated a number of important milestones recently, including achieving profitability last year, and this is up there with the best of them. It’s indicative of the growth of our operations and the volume of customers we are now helping. It’s also a reflection of our ambition and sheer determination to support business growth following a difficult two years for the economy.”
Redwood, which has lent £450m to more than 600 customers, was named earlier this year as a finalist in three categories in the Business Moneyfacts Awards. The Bank now employs more than 100 members of staff after starting with a team of 12.