Somo has joined the lending panel of financial services platform firm Finova.
The bridging loans firm will join more than 60 lenders using the fintech company’s payment and mortgage services software that has access to over 3,000 brokers.
The lender’s products include valuation-only and second charge loans. Earlier this year, the business, founded in 2010, says it has lent £250m since it was established.
Somo sales director Jade Keval says: “Somo is steadily growing and relationships like this are an important part of our growth plan.
“Like Finova, we’re constantly looking for ways to simplify the way we do business. It’s the reason why our new brand proposition is … ‘why make bridging difficult?’”
Finova head of payment and mortgage services Melanie Spencer adds: “Somo is a lender that makes things happen because the team is given the flexibility to complete on a wide variety of loan scenarios, even when borrowers don’t fit the standard lending criteria.
“This will provide our broker clients with even more options when they’re looking for deals.”