Development lender strengthens UK footprint amid rising demand in Scotland
Private credit provider Pluto Finance has opened its first regional office in the UK, selecting Edinburgh as its base to support growing demand for development finance across Scotland.
Located at 26 Alva Street, the new office will be led by Jamie Drummond (pictured), who joined Pluto in March as lending director for Scotland. The move signals the lender’s aim to increase its presence in the Scottish market and better serve both investors and property developers in the region.
Pluto provides structured debt finance ranging from £5 million to £100 million. The firm said the Edinburgh base will help it respond more quickly to Scottish borrowers, particularly as mainstream banks continue to retreat from funding small and mid-sized property developments.
Since Drummond’s appointment, he has built a pipeline of deals across residential, logistics, and office sectors. Pluto said these could support the construction of more than 2,000 new homes and deliver commercial assets that contribute to regional employment and economic activity.
“The Scottish market provides a considerable opportunity for tailored development finance, driven by strong demand from SME developers and a clear gap left by the withdrawal of traditional banks,” Drummond said.
“Pluto’s ability to provide fast, flexible and structured capital allows us to support a broad spectrum of development projects. We are one of the few lenders able to serve both large corporate and SME borrowers, offering leverage and pricing solutions that compete effectively with high street banks, challenger lenders and alternative finance providers. Establishing a permanent presence in Edinburgh strengthens our ability to deploy capital efficiently and reflects Pluto’s long-term commitment to the country’s housing delivery.”
Scotland faces an ongoing shortfall in new housing, with recent data showing that the number of new build starts has fallen to its lowest point in two decades, well below government targets.
Pluto Finance chief executive Justin Faiz said the new office reflects the firm's view of Scotland as a key growth market.
“Our decision to open in Edinburgh and appoint Jamie reflects the scale of the opportunity in Scotland,” he said. “The Scottish housing market and wider commercial development market needs new sources of funding and we are committed to deploying capital here. Our new office will play a key role in helping us support local developers, strengthen local supply chains, and accelerate the much-needed delivery of new homes.”
Pluto Finance operates across the UK and Europe, focusing on real estate credit solutions for a range of borrower types, including SME and institutional developers.
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