LendInvest brings total funding to £230m with £40m finance facility
Start-up to use latest funding to accelerate growth and cement “market leading” position in online property finance market
LendInvest, the online marketplace for property finance, has received an initial £40m warehouse financing facility from Macquarie – bringing its total institutional funding to more than £230m.
Started in 2013 by Christian Faes and Ian Thomas, London-based LendInvest is a peer-to-peer (P2P) marketplace for lending and investing in the UK mortgage market.
To date, the firm claims to have lent more than £625m in property loans to landlords and developers with borrowers having built or refurbished 2,200 UK properties worth £900m.
The funding – which follows a £17m Series B in March 2016 and a £22m Series A round in June last year – will allow LendInvest to fuel ongoing growth as it looks to consolidate a “market leading” position in the short-term mortgage market.
Faes commented: “We look forward to working with the Macquarie team as we expand our product range with longer term loans that are attractive to them and other capital markets investors.”
“This warehousing line will assist us as we move towards being able to securitise our assets for institutional investors.”