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In a recent development, LendInvest, an online marketplace for property lending and investing has secured €216 million investment from the National Australia Bank.
Christian Faes, Co-Founder & CEO of LendInvest, commented:
We’ve now raised almost £2 billion in debt and equity for LendInvest, and in many respects, we’re just getting started. 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.
With this, LendInvest has now raised over €1.94 billion of debt and equity from investors to date, making it one of the largest non-bank mortgage lenders in the UK.
Securing an additional £200 million 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 – and we’re proud to be announcing this partnership today between NAB and LendInvest.
Founded by Christian Faes and Ian Thomas, LendInvest is an online marketplace platform that lets everyday investors access various types of asset classes; and underwrites and pre-funds multiple investments.
This new funding expands Lend Invest’s ability to lend in the ‘Buy-to-Let’ market in the UK. Since the launch of our BTL (Buy-to-Let) product in November 2017, the company has so far lent more than £370 million in BTL loans through an online platform; providing a paperless, superior experience for our brokers and borrowers. Right now, the company employs 200 staff members with an office in London.
Chris Philp, PPS to the Chancellor of the Exchequer, said:
This very substantial investment from NAB into LendInvest loans is an important example of how global institutions are motivated to back not only the UK’s thriving fintech sector, but throw their weight behind the country’s property sector in a long-term and meaningful way. It’s encouraging to see LendInvest push even further in buy-to-let, taking their technology into markets where financial innovation is yet to make its mark.
The National Australian Bank joins a growing list of global financial institutions, including banks such as HSBC, Citigroup, and Nomura.
Stay tuned to Silicon Canals for more updates in the tech startup world.