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Peer2Peer Finance News | September 19, 2019

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LendInvest boosts business development team with new hires

LendInvest boosts business development team with new hires
Suzie Neuwirth

LENDINVEST has bolstered its business development team nationwide, to support the online property lender’s next stage of growth.

Nigel Robbins has joined LendInvest from specialist mortgage lender Magellan to source deals across the South West of England.

Abby Challen has also been hired as a business development manager, to cover Central and Greater London. She joins the team from specialist distributor Enterprise Finance.

Paige Archer has been promoted internally to an office-based business development manager, supporting brokers through the sales desk.

Read more: Lendinvest bumps up buy-to-let mortgage loans to £750k

“After what has already been a busy year for the business, appetite for LendInvest’s loan products is only growing,” said Ian Boden, sales director at LendInvest.

“Field-based BDMs are a huge support to our lean in-house sales desk. Their deep local networks ensure our technology driven processes and best practice customer service get right in front of borrowers and brokers at their desks throughout the country. We are delighted to announce these key hires who bring a broad range of experience to the team.”

LendInvest reported an 82 per cent rise in core earnings to £4m in its latest annual results, which chief executive Christian Faes showed that fast-growth fintechs can invest in technology while also making a profit.

In April, it announced that it had secured a £200m funding line from HSBC, enabling it to make its first move into the owner-occupied residential mortgage lending space.

The firm used to be a member of the Peer-to-Peer Finance Association and accept retail money directly through its platform, but in 2017 it confirmed that it had cancelled its regulatory application to operate a peer-to-peer lending platform.

It now accesses retail investors through its listed retail bonds.