Fintech start-up LendInvest has secured over £200m funding since 2013
London-based P2P real estate marketplace has just closed a £17m Series B round led by Skpe co-founder Niklas Zennström's VC firm Atomico
LendInvest, the peer to peer (P2P) marketplace for property lending and investing, has bagged a £17m Series B round led by venture capital (VC) firm Atomico which takes its total funding (debt and equity) to date to over £200m.
As part of the deal, Atomico’s Mattias Ljungman – who launched the VC firm with Skype co-founder Niklas Zennström – will join LendInvest’s board of directors.
Started in 2013 by Christian Faes and Ian Thomas, London-based LendInvest claims to be the first site to bring P2P lending to the UK mortgage market and has so far lent £560m to finance 2,100 UK properties.
It will use the investment, which follows a £22m Series A round in June last year, to expand its technology in the online property finance sector and it has plans to recruit its first senior vice president of engineering.
Co-founder Faes commented: “To receive this backing from Atomico is an awesome opportunity for LendInvest. We have only scratched the surface of how technology will make mortgages a better, faster and more transparent consumer experience for borrowers and investors.
Investor and new board member, Ljungman, added:
“London is a global leader in fintech, raising almost $1bn in VC funding in 2015 alone. LendInvest is a great example of what can be achieved through fintech technology, opening up the world of lending and mortgages to a new generation of tech savvy consumers.
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“We’re excited about working with the team to ensure that their great product is underpinned by the best technology, and to take their business to the next level.”