Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.
Offa Raises £6.5m to Fund Growth and Expansion
Islamic property finance firm Offa has completed a £6.5 million working capital raise through a sukuk and warrant structure. The funds will be used to support the company’s investment in technology, operations, customer experience, and national expansion.
The sukuk, an Islamic financial certificate compliant with Sharia principles, was listed on The International Stock Exchange in Guernsey. The transaction attracted investors from both the UK and the Gulf Cooperation Council (GCC), which Offa said reflected confidence in its business model and growth plans.
Offa stated that the capital raised will help drive its expansion as it scales operations across the UK. The company has previously launched a home purchase plan with a family assist feature, allowing family members to help with finance repayments.
This development is relevant for UK letting agents and inventory clerks as Offa’s growth and technology investment may influence the range of property finance options available in the market, particularly for clients seeking Sharia-compliant solutions.
Source: Mortgage Solutions