South-West London property developer Harepath has seen impressive growth over the past three years, supported by a strong partnership with Cynergy Bank.
Since April 2022, Cynergy Bank has played a key role in Harepath’s expansion, providing over £20 million in funding. The latest milestone in their collaboration came in February with a £7.5 million deal, led by Mitesh Hathi and Kathryn Lillis. This continued financial backing reflects the strength of the relationship and Harepath’s growing presence in the regional property development space.
The funding provided by Cynergy Bank has played an important role in allowing Harepath to improve on its service offering and enhance the efficiency of its business model. This has led to increased profitability for the company.
Peter Whiteway, Owner of Harepath, said: “We immediately noticed that Cynergy keeps the bureaucracy and processes to an acceptable level. This was a breath of fresh air after the previous banks we had been using. This simple approach coupled with the competence and quality of all the bank’s colleagues that we have dealt with have reduced the stress levels in a tough business environment.
“The quantum of the relationship has now grown to over £20m and the funding and clear communications regarding debt levels, repayment percentages and speed of decision making by the bank have enabled us to strategise much more effectively both in terms of some developments we have undertaken but also in disposals of some properties.
“The business is now more efficient and streamlined with a more profitable model.”
Alex Eaton, of Cynergy Bank, said: “We are proud to have supported Harepath’s impressive growth over the past three years. Our focus has always been on providing tailored financial solutions with minimal bureaucracy, enabling our clients to thrive even in challenging environments.
“The strong partnership we’ve built with Harepath reflects our commitment to clear communication, swift decision-making, and strategic support, all of which have been key to their ongoing success. We’re excited to continue working together and look forward to seeing their continued achievements.”
Along the journey, Cynergy Bank has been highly commended by Harepath for its clear communication and the speed of decision-making.
The partnership exemplifies how effective banking relationships can foster growth and stability in challenging economic conditions.
