Consumer finance platform Lendable has raised £210 million in its latest funding round.
The round, led by Ontario Teachers’ Pension Plan Board via its Teachers’ Innovation Platform (TIP), gave the firm a valuation of more than £3.5 billion.
Lendable was founded in London in 2014 by Martin Kissinger and Victoria van Lennep.
The FinTech’s platform connects institutional investors with borrowers, covering loans, credit cards, and car finance.
Ontario Teachers’ Pension Plan Board is one of the world’s largest institutional investors, with C$221.2 billion under management as of December 2020.
TIP focuses on late-stage venture and growth equity investments in technology companies.
"We are excited to partner with TIP as we accelerate our expansion across products and markets,” said Martin Kissinger, founder and chief executive at Lendable. “Our DNA from day one has been to bring transparency and fairness to consumer finance, and we are proud of the fantastic feedback we consistently receive from our customers,”
He added: “TIP is a global growth investor with a long-term view who can support our ambition to make this giant market work better."
Olivia Steedman, senior managing director at TIP, said: "Lendable’s seamless, quick and easy to use products, powered by advanced AI, are shaping the future of consumer finance.”
She added: “We’re delighted to work with Martin and his visionary team to deliver on Lendable’s growth ambitions."
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