LendInvest, the newly-listed online property lender, has signed a £150m funding deal with Barclays and HSBC.
The deal will see the two high street banks fund short-term mortgages via LendInvest’s digital platform.
It is the first time that Barclays has worked with LendInvest, while HSBC has an existing agreement with the alternative lender.
The tie-up follows LendInvest’s initial public offering (IPO) on London’s Aim market on 14 July.
Its shares are up more than seven per cent to around 211p since its stock market debut.
“We are hugely excited about the future for LendInvest,” said Rod Lockhart, chief executive of LendInvest, on the day of the IPO.
“The capital that we have raised through this IPO will enable us to accelerate our technology roadmap, expand into new areas of property finance, and attract new investors, brokers and borrowers to our platform.
“We’re delighted to welcome a great group of investors today, and we look forward to delivering for them on the next stage of our journey.”
LendInvest has secured a number of funding deals with banking behemoths to support its rapid growth. In January this year, it unveiled a £500m commitment from JP Morgan to help scale up its buy-to-let mortgage lending business.
The platform has grown its funds under management to around £2.7bn.