LendInvest, an online marketplace for loans, has collected £200m in an investment from the National Australia Bank (NAB).
The funding will increase the company’s capacity to lend in the UK buy-to-let market. LendInvest has now raised more than £1.8bn of debt and equity from investors.
This latest investment comes just months after LendInvest picked up a separate £200m in funding from HSBC UK. The facility was given to support the FinTech enter into the regulated home loan market.
LendInvest initially launched its buy-to-let mortgage product in 2017, after funding from Citigroup. Since then, the company has loaned over £370m in loans.
In addition to buy-to-let loans, LendInvest provides individuals and institutions various investment opportunities for the UK mortgage market. Individual investors can either participate in a co-investment platform, which start from a minimum contribution of £1,000 and see a four to seven return per year, or a secured bond which is on a 5.5 fixed-year term and 2.3 per cent return.
Institutions can also invest through the platform via the secured bonds, co-investment schemes, or in an opportunity fund.
Borrowers can use LendInvest to seek out loans for bridging finance, development, or product transition.
Christian Faes, Co-Founder & CEO of LendInvest, commented: “We’ve now raised almost £2 billion in debt and equity for LendInvest, and in many respects we’re just getting started. We have dominated in the short-term mortgage market for years, and we’re now bringing our technology and growing distribution footprint, to take market share in the longer-term mortgage market.
“Securing an additional £200 million of funding for our business from NAB is a great example of how the world’s leading financial institutions are partnering with the world’s leading Fintech businesses – and we’re proud to be announcing this partnership today between NAB and LendInvest.â€
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