- Masthaven Bank is the 10th fastest-growing company in the UK, according to research from market analyst Beauhurst
- Masthaven reported a turnover of £28.3m in 2019, a growth of 104% from 2018
is the 10th fastest-growing company in the UK, according to research from market analyst Beauhurst
. Based on data analysing the change in turnover reported between 2018 and 2019 for 30,000 UK-based high-growth companies, Masthaven has placed 10th
on the list with a turnover of £28.3m in 2019, an increase of 104% from 2018.
To be eligible as one of the UK’s fastest-growing companies, businesses must meet certain criteria including a reported turnover of at least £1m in 2018, as well as having previously raised equity and demonstrated consistent turnover growth since their inception. Beauhurst ranked challenger bank Monzo, green energy provider Bulb and technology firm Velocity as the top three fastest-growing firms. The ranking has also been reported by the respected business voice Forbes.
Masthaven Bank has gone from strength to strength since its launch in 2004, securing its banking license in 2016 and a £60m equity investment from Värde Partners in April 2019.
Leigh Bartlett, Chief Executive Officer of Masthaven Bank said:
“Masthaven Bank is one of the top ten fastest-growing companies in the UK and that’s testament to the hard work of our team as they continue to support our customers and develop positive relationships with our mortgage intermediary partners. While turnover is only one indicator of success, being named in this ranking is evidence that Masthaven has begun to achieve its objectives as a relatively new specialist bank.
“Masthaven is determined to eliminate the ‘one size fits all’ approach of traditional banking, instead offering personalised savings and specialist, secured finance options to customers who are underserved by the high street.”
Masthaven has made significant investments in technology and digital services. In February 2020, the bank launched a new online portal for its short-term lending division which has led to a significant rise in bridging activity and new business. In 2019, Masthaven was named the Most Innovative Digital Retail Bank in the UK by CFI for the second year running.
Leigh Bartlett concluded:
“Masthaven is a leading player in the specialist banking market. We are committed to working with our intermediary partners to ensure customers have access to the finance they need, and we will continue to pursue sustainable growth as a responsible lender as we enter the next phase of our evolution.”
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About Masthaven Bank
Masthaven launched as a retail bank in 2016 and offers award-winning saving and lending products. Prior to that, Masthaven Finance has provided a flexible and personalised approach to bridging loans and secured lending since 2004.
Today, the bank’s knowledgeable and experienced specialists are committed to providing customers with flexible and fixed term savings accounts, bridging loans, development finance and mortgages.
Masthaven was recognised as 2019’s Most Innovative Digital Retail Bank UK by CFI, the second consecutive win for the category. Masthaven won Best Second Charge Mortgage Lender in the Your Mortgage Awards 2018/19 and Customer Service of the Year in the Money Age Mortgage Awards in 2019. It was also awarded Best Specialist Lender in the Moneynet Personal Finance Awards 2019.
Masthaven Finance has featured in 2015’s The Sunday Times’ Virgin Fast Track 100 (at number 81) and the bank ranked 240 in Financial Times’ FT1000 list published in 2017. In 2020 it featured in Forbes as one of the top 10 fastest growing companies in the UK.
The bank is regulated by the Financial Conduct Authority and Prudential Regulation Authority.