2 months ago
London-based movie and TV lending level Allegro Finance has secured a £2 cardinal ($2.6M) moving superior installation from Beechbrook Capital, done costs managed connected behalf of nan British Business Bank.
The announcement of nan installation follows Allegro Finance’s charismatic launch past week of a $500 cardinal in installments installation dedicated to movie and tv production, pinch entities advised by Elliott Advisors UK Limited.
Allegro was launched successful 2024 by movie and TV finance, system in installments and finance banking veterans Jamie Lowe, Peter Touche and Sam Collett.
“This moving superior installation is simply a powerful catalyst for Allegro’s maturation and we are grateful for nan support from Beechbrook and nan costs they negociate connected behalf of nan British Business Bank,” said Collett.
“It enables america to standard nan level and deploy backstage organization superior into nan UK movie and tv assemblage astatine a level not antecedently seen. This is precisely really nationalist superior tin unlock backstage investment, support high-growth businesses and fortify 1 of nan UK’s astir globally competitory industries.”
Allegro’s backing statement will beryllium deployed crossed a diversified world slate of movie and tv productions successful statement pinch Allegro’s ambition to go nan starring non-bank elder lender to nan world surface industries.
Paul Shea, Managing Partner of mini and medium-sized businesses lender master Beechbrook Capital, said nan creation finance was bully fresh for nan costs nan institution manages connected behalf of nan British Business Bank.
“All our costs activity to support maturation and occupation creation, and this finance is nary different. The UK’s imaginative industries are a captious portion of nan economy, employing hundreds of thousands of group and driving important taste and economical value,” said Shea.
British Business Bank Managing Director and Co-Head of Funds Adam Kelly pointed to nan truth that imaginative industries are a cardinal portion of nan UK’s business strategy.
“The UK’s imaginative industries play a captious domiciled successful nan government’s Industrial Strategy, employing 2.4 cardinal group and contributing £124bn of Gross Value Added to nan economy. By providing finance to Beechbrook Capital, and successful move supporting master platforms for illustration Allegro Finance, we support businesses to entree nan finance they request to start, standard and enactment successful nan UK,” he said.
