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Level secures new PE investment and acquires probate lender Tower Street

Level, a UK-based and FCA-regulated lender operating in the family and private client law sectors, has secured a £5m equity investment from private equity firm Kendal Capital and acquired probate finance provider Tower Street Finance.

The firm has also secured additional £5m debt investment from Correlation Risk Partners to support its growth plans.

According to a press release, the acquisition of Tower Street Finance gives Level a presence in a new market which is forecast to grow rapidly due to lengthy probate service processing delays and the cost-of-living crisis.

Probate lending enables beneficiaries to access funds to pay IHT bills before probate is granted or liquid assets such as property or land are sold.

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