New Silver, a West Hartford, Connecticut-based fintech offering a platform for real estate investors, has acquired Mayflower Venture Partners, a Quincy, Massachusetts-based direct lender specializing in fix-and-flip and new construction loans for New England-based single-family and small multifamily properties.
According to New Silver, the acquisition helps to expand its New England presence while offering Mayflower’s clients access to a broader suite of loan products, including DSCR rental loans, and greater capital capacity to fund larger and more complex deals. The financial terms of the deal were not disclosed, and Mayflower Venture Partners’ team will continue to serve existing and new clients under the New Silver platform.
Hussien Skaiky, founder of Mayflower Venture Partners, stated, “This decision was made with our clients at the forefront. We’re proud of the loan performance and relationships we’ve built, and joining New Silver gives our borrowers better pricing, more capital, and access to some of the best technology in the business to help them succeed and grow.”
Kirill Bensonoff, CEO of New Silver, added, “We are looking forward to strengthening our presence in New England through this acquisition and to working with Hussien and continuing the excellent service he has been providing to his clients for many years. We believe the combined team will bring additional value through stronger relationships, additional technology like New Silver’s AI-assisted underwriting, and even more competitive pricing.”
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