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.
“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.”