Glenhawk wins Start-Up Business of the Year at prestigious Amazon Scale-Up Awards
Glenhawk, the fast-growing UK real estate challenger lender, is pleased to announce that it has been recognised as Start-Up Business of the Year at the prestigious 2020 Amazon Scale-Up Awards. Glenhawk is the first alternative lender to win in this category, which celebrates the UK’s most successful businesses and entrepreneurs.
Launched in January 2018 by 33-year old entrepreneur Guy Harrington to disrupt the UK short term lending market and backed by Rightmove founder Harry Hill, Glenhawk has quickly become a mainstay of the £4.5 billion industry. In just over two years, it has originated £1.7 billion pounds worth of enquiries and provided £116 million of commercial and residential financing, across 165 loans, to enable a diverse range of property professionals to acquire real estate.
Guy Harrington, Founder and Chief Executive Officer of Glenhawk, said: “It is incredibly humbling to win this prestigious award given all the outstanding start-ups that were nominated alongside us and that have won this award previously. This recognition, a true team effort, is a huge confidence boost as we look to replicate the success, we have had in the UK bridging market with more consumer focused products, whist remaining true to our ethos of fairness and transparency.”
Having delivered a 150% increase in loan origination and 600% increase in revenues in 2019, 2020 has seen Glenhawk continue on its rapid upwards trajectory, with an approach underpinned by an emphasis on innovation, transparency, technology and workplace wellbeing. In March it announced it had agreed a new senior funding line with the US’ largest bank J.P. Morgan, which will support Glenhawk’s ambitions to grow its UK loan book to £200 million by the end of 2021. It has enjoyed a robust period of loan book growth during COVID-19 pandemic, growing its loan book by 20%.
Guy Harrington added: “The vision for Glenhawk was borne out of a first-hand experience that the short term lending sector was ripe for disruption and our rapid growth trajectory since launching has proved this to be true. Despite the challenging macroeconomic backdrop, the business has continued to go from strength to strength, with the backing of several global institutions and as the real estate fundamentals in the UK have remained favourable.”
