FinTech lender Landbay secures £1bn funding
Buy-to-let FinTech lender Landbay has announced a £1bn investment from an institutional investor.
The company said it will use the new funding line to grow its buy-to-let lending over the next two years.
CEO John Goodall said the company could not name the institution but “would love to publicly thank them for their vote of confidence especially in a period of significant economic and political uncertainty.”
Founded in 2014, the firm focusses on the professional buy-to-let market and has seen its lending volumes rise by 200 per cent over the last 12 months and has taken an additional office space in London.
The firm recently increased its loan ceiling to £2m and its maximum loan term from 25 to 30 years.
“The £1bn funding is coming from a major financial institution, cementing another flagship partnership between traditional finance and FinTech,” said Goodall.
“It’s another fantastic example of London’s thriving FinTech sector, even in the face of political and economic uncertainty.”
“We have spent the last five years investing in technology, building a platform that we’re proud of.
“Our lending volumes coupled with a successful few years of award wins prove that our market model is popular with investors, borrowers, and brokers alike.”
The firm was named one of BusinessCloud's 101 FinTech Disrupters.