Online property financing and investing platform LendInvest has raised $39.5m in a Series C debt and equity round.
This capital round has been labelled as pre-IPO funding. Atomico have used the round to increase their investment into LendInvest and were joined by new backers GP Bullhound and Tiger Management.
UK-based LendInvest is an online marketplace to connect investors with borrowers to provide better access to property finance. The company provides bridging finance, development finance and buy-to-let.
When a borrower applies for a loan, the company underwriting team reviews the application and if approved it will be funded through LendInvest own capital. Following this, the loan will be made available through the LendInvest platform for investors to back.
The company has helped to lend over $1.5bn and finance more than 5,000 properties across the UK.
Through this investment, the company will look to further its investment into its technology and move into the mainstream mortgage market.
Prior to this round, the company raised a $22m Series B in March 2016 and was used to increase investment into its technology and enter the buy-to-let market.
With the company fundraising efforts on its online investment platform and through institutional investments, the company has raised more than $1bn, the company said.
LendInvest co-founder and CEO Christian Faes said, ?Having recorded a fourth consecutive annual profit, raising capital wasnt a necessity for LendInvest but by beefing up our balance sheet and bringing on some very experienced additional investors, we are well placed to capitalise on opportunities in the future.
Earlier in the year, LendInvest completed a ?16m development deal with Yogo Group to support the part-conversion and rebuild of a Grade II listed building, the former Thomas Lipton Care Home, as well as the construction of new units. The construction project will create 24 apartments and six houses.
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