ALTERNATIVE MORTGAGE LENDER

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Industry

Financial Services

Company Type

Fund

Size

$40 Million Equity

Investment Type

Equity

OVERVIEW

Manzil Credit (“Manzil”), an online lending platform targeting immigrant populations, is raising approximately $40 million USD for continued growth of its alternative prime-credit loan portfolio

Competitive Advantage

Manzil is the only fully online platform that offers funding products structured to meet the requirements of immigrants and religious communities that pay a premium yield to access (of ~200 bps or more) Manzil’s products

Growth of Portfolio

Prime-credit asset CAGR of greater than 100% since inception in 2020

Underwriting/

Servicing

True North Mortgage handles underwriting and servicing with a $4 billion servicing portfolio and less than 0.10% arrears rate on $6.5 billion portfolio originated over its 20 years in business

Use of Proceeds &

Strategy

Manzil aims to use the $40 million in conjunction with an efficient warehouse and rated securitization facilities to fund Manzil’s pipeline of loans and maximize gains from yield premium 

Manzil’s banking relationships indicate competitive pricing for warehouse facility with ~90% advance rates and Manzil expects an investment-grade securitization rating based on analytical discussions with top rating agencies

PROBLEM & SOLUTION

Middle-class immigrant communities with specific financing requirements are a growing segment across Canada and North America and are currently underserved despite prime-credit quality and high disposable income
As per management research, Manzil has developed the only fully digital platform that offers a suite of financial products that meet these communities’ requirements

MARKET OPPORTUNITY

Thomson Reuters estimates that there were immediate borrowing demands in excess of $17 billion by 2020 in Canada alone
Manzil has generated a large pipeline of immediate funding demands for just one prime-credit loan product with strong foreseeable demand for a catalogue of products

As per management, Manzil has over $1.5 billion in waitlisted prime-credit clients as of October 2023

STRONG GROWTH

Manzil’s prime-credit assets have nearly doubled every year since inception in 2020 and current client waitlist exceeds Manzil’s capital capabilities by multiples
Manzil’s warehousing/securitization strategy is intended to enable continued high growth of the company through increased capacity to meet waitlisted clients and additional foreseeable demand

Based on audited financial statements.  All audits prepared by MNP.

THE TEAM

Partner –Manager/ Structuring and Credit


  • Seasoned finance and legal professional with significant transactional and fund experience, spans securitizations of mortgages, transportation/shipping assets, auto loans, and agricultural assets
  • Has advised credit funds, private equity funds, real estate funds, litigation funds and other alternative funds on a wide range of issues including fund formation, LP investments, secondary sales and general partner seed investments/stake sales
  • JD/MBA and New York licensed attorney
Partner – Operations and Finance


  • Has worked with quasi-governmental institutions, private equity sponsors, insurance companies and development banks on a wide range of issues in the areas of project finance, structured finance, project economics and corporate operations
  • Substantial experience as a credit ratings analyst with one of the foremost global credit rating agencies, which has enabled a deep understanding of everything from complex financial analysis to project operations
  • B. Eng, M. Econ and MBA
Partner – Asset Origination Manager


  • Creator of the Manzil online platform
  • Used significant technical knowledge and understanding of the alternative home financing market to develop a highly competitive home financing platform. Since inception, the Manzil platform has experienced unprecedented growth in demand for its products.
  • Doctorate in Business Administration
Partner – Asset Origination Operations


  • Instrumental in managing the continued growth of the pipeline through the Manzil platform.
  • Has supervised the sourcing of assets into the existing outperforming portfolio and has developed relationships with institutional grade-originators and servicers to ensure the continued sourcing of high-quality prime mortgage assets.
  • CPA, CSAA
Learn More About Manzil Credit
Thank you for your interest in Manzil Credit.Please fill out your information and we will contact you shortly with more information on this opportunity.

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CONTACT US

Hi. We're not around right now. But you can send us an email and we'll get back to you, asap.

Thanks, Ken

Ken Margolis | Managing Partner Castle Placement, LLC
1460 Broadway Street, Rte 400
New York, New York 10036
(212) 418-1188 | C: (516) 712-7784
kmargolis@castleplacement.com

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