Direct lending investment platform BondMason has collected £1.85m in its funding round, 50 per cent more than its initial target.
The investment was led by Seneca Partners and Par Equity, while several private investors also made commitments to the round.
UK-based BondMason is a direct lending service for investors, connecting them with opportunities across the direct lending and P2P lending space. The company conducts due diligence on lending opportunities that meet with a user’s preferences.
Investors are able to build diverse portfolios of more than 100 loan positions, and can monitor and liquidate their holdings from the platform.
Since 2015, the company has helped a total investment of £35m over 6,000 lending opportunities, making an average gross return of 8 per cent p.a.
Equity from the round will go towards driving the growth of the company. Over the past 12 months, the company’s growth has trebled and BondMason hopes to expand its product offering by launching new services to enable clients access to a broader range of risk-adjusted returns. Of the new products, the company is looking to offer fixed term bonds and an IF ISA, later in the year.
The company is also looking to improve the user experience on the platform, improve the client dashboard and further develop the SIPP and SSAS service with current and new partners.
BondMason CEO Stephen Findlay said, “Our role is to enable more investors to access direct lending as a complimentary asset class, enhancing their overall investment strategy. We will work closely with other participants in the financial services sector, such as IFAs and Wealth Managers, as well as continue to serve clients directly. “
Last month, real estate investment platform BRICKX picked up a $9m Series A funding round from NAB Ventures. The company opens the market to consumers, by enabling a consumer to invest in the bricks of the building, which represent a percentage of net rent income.
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