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Peer2Peer Finance News | July 24, 2019

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LendInvest hails record-breaking December with £83m in loans

LendInvest hails record-breaking December with £83m in loans
Kathryn Gaw

PROPERTY lender LendInvest has revealed that it funded a record £83m in loan originations last month.

This brings the platform’s total loan value to date to £1.7bn.

“In what was a short month in terms of business days, we have achieved a fantastic new record of loan originations for the business,” said Ian Thomas, LendInvest’s co-founder and chief investment officer.”

Read more: LendInvest bond backs £50m of property loans

The news caps off a busy year for the firm, which saw it reach a series of fundraising milestones.

In September 2018, LendInvest closed a £150m funding deal with investment bank Nomura and alternative investment manager Magnetar. Soon after, it was announced that £30.5m had been raised in a Series C funding round.

At the start of last year, the platform launched a second retail bond on the London Stock Exchange, paying 5.4 per cent. And later in the year, the platform announced a number of partnerships with fintechs such as Stripe and Onfido, as part of its long-term plan of “changing the mortgage process for the better, enabling us to empower our customers, whilst delivering high quality loans at speed.”

LendInvest also expanded its team throughout 2018, making 13 new hires in its buy-to-let business, and bringing its total number of employees to 161.

The buy-to-let lending product was launched at the end of 2017 and hit its first £100m milestone in 2018.

“This year the team have truly gone above and beyond in ensuring we are delivering the finance our borrowers need, at speed,” said Thomas. “Our focus now is keeping this momentum going into 2019.”

Read more: How does LendInvest’s buy-to-let offering stack up to P2P rivals?