FCA-regulated non-bank lender Level has raised £105m in a combination of equity from Capricorn Capital and a senior secured facility from Pollen Street Capital, strengthening its position as the UK’s leading specialist lender for probate and family law financing.
Since its launch in 2017, Level has provided more than £175m in funding to over 1,650 clients, with its lending book expanding by 71% over the past financial year. The latest debt raise is expected to accelerate growth as the firm continues to meet rising demand for specialist legal financing.
With over £100bn of assets tied up in UK probate and persistent processing delays and inheritance tax receipts projected to increase 30% to £10bn by 2029, the need for liquidity solutions in probate and family law is expected to drive further demand for Level’s services.
As part of the transaction, Robert Gottlieb, CEO of Capricorn Capital, and Ricardo Delgado, Principal of Capricorn, will join Level’s board of advisers. They join existing board members, including major investors Grant Kurland (Kendal Capital), Richard Avery-Wright (1818 Venture Capital), and Neil Purslow (Therium Capital).
Kurland, former CEO and founder of Bayport Financial Services, took on the role of Chairman in 2024 following a significant investment in the firm. He brings extensive credit expertise and strategic oversight to support Level’s continued expansion.
Additionally, Level has appointed Harvey Bowman as Finance Director, a role he has held since January 2024. Bowman, formerly Head of Finance at Cardeo, brings deep experience in financial services, having previously worked in restructuring and corporate finance at EY and Evercore.
