LendInvest secures £200m institutional funding line
LENDINVEST has secured a £200m funding line from the National Australia Bank (NAB).
The alternative property lender said the institutional funding would help expand its buy-to-let product.
The platform has now raised more than £1.8bn of debt and equity from investors including HSBC, Citigroup and Nomura.
Read more: Lendinvest bumps up buy-to-let mortgage loans to £750k
“We’ve now raised almost £2bn in debt and equity for LendInvest, and in many respects we’re just getting started,” Christian Faes (pictured), chief executive of LendInvest. said.
“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 £200m 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.”
James Versmissen, associate director at NAB, said the bank was keen to support “lenders that shape the mortgage market of tomorrow.”
It comes after LendInvest announced a separate £200m funding line with HSBC earlier this year to enter the regulated homeowner loan market for the first time.
The platform said it has lent more than £370m in buy-to-let loans and is taking market share in the bank dominated market.
Read more: How does LendInvest’s buy-to-let offering stack up to P2P rivals?
