LendInvest lands £30m funding, eyes IPO
Written by Hannah McGrath
LendInvest has raised £30.5 million in its latest funding round, which was aimed at preparing the startup for a potential IPO.
The online platform for property financing and investment has become one of the UK’s largest non-bank mortgage lenders since its launch in 2013. It lends finance to professional property investors and developers, allowing individuals and financial institutions to invest in the loans.
The company claims its clients have so far invested over £1.2 billion in loans, helping to bring 5,000 new or improved homes into the UK market.
The Series C debt and equity funding round, led by existing investors Atomico, technology investment bank GP Bullhound, and Tiger Management, was positioned by the company as pre-IPO funding, following a series B funding round of £17 million in March 2016, taking total fundraising to more than £1 billion.
Christian Faes, co-founder and chief executive of LendInvest, said the company is using technology to build a new kind of financial services business on a scalable platform.
Mattias Ljungman, partner at Atomico, added: “Since our initial involvement the business has invested heavily in its proprietary technology, successfully moved into buy-to-let and launched the FinTech sector’s first LSE listed retail bond programme.”