# Perenna Bank

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/perenna-bank

- Industry: Financial Services
- Headquarters: London, UK
- Website: www.perenna.com/
- Total disclosed funding: $21M
- Latest round: Series A (Aug 9, 2022)
- Investors on record: 1

## About

Based in the UK, Perenna Bank PLC specializes in providing innovative mortgage solutions that simplify home financing for consumers, ensuring predictable payments and financial stability.Perenna Bank PLC, founded in 2018, is a UK-based financial institution focused on offering straightforward mortgage products. The company has successfully completed 3 deals, with its most recent funding round occurring on August 31, 2023, where it raised GBP 42.22 million led by SilverStripe Investment Management. The total amount raised to date is GBP 42.22 million, valuing the company at GBP 170.78 million. Colin Bell is the founder of the company, whose background includes significant experience in the financial sector.Perenna is primarily focused on providing innovative mortgage solutions aimed at simplifying the home financing process for consumers. Their core product offering includes a straightforward, fixed-rate mortgage designed to ensure predictability in payments without the concerns of rising interest rates or hidden fees. This product is tailored for a diverse clientele, from first-time homebuyers to those looking to remortgage their properties, enabling them to secure financial stability and freedom in their housing choices. Perenna's services are available through licensed mortgage brokers, ensuring that clients receive personalized advice and support throughout their mortgage journey. Geographically, Perenna operates within the UK market, targeting homeowners and prospective buyers seeking transparent and reliable mortgage options without the typical restrictions found in conventional lending practices.Perenna generates revenue primarily through its mortgage offerings, which are distributed via partnerships with mortgage brokers. This partnership model facilitates the delivery of customized mortgage solutions to clients, enhancing client engagement and satisfaction. The revenue structure is based on commissions or fees paid by clients upon securing a mortgage, with the potential for repeat business through remortgaging services as clients seek better financial arrangements. In 2023, Perenna reported an EBITDA of GBP -20.33 mn, indicating the challenges faced in the current financial landscape.In August 2023, Perenna Bank PLC raised GBP 42.22 million in venture funding to support the launch of its product, Perenna Mortgage. The company plans to expand its offerings into new markets, focusing on enhancing its mortgage solutions and reaching a wider audience in the UK. This recent funding is crucial for driving product development and enhancing client service capabilities, positioning Perenna for future growth.

## Funding rounds

- Series A, Aug 9, 2022, $21M — IAG Capital Partners

## Investors

- IAG Capital Partners (https://capitalatlas.ai/funds/iag-capital-partners) — Series A