Online property finance marketplace LendInvest has secured £200m in funding.
The UK firm secured the investment from National Australia Bank (NAB), and has now raised over £1.8bn debt and equity, and has lent more than £370m in buy-to-let loans.
Launched in 2008 the London-based firm offers its customers borrowing options for development finance, bridging finance, and buy-to-let mortgages.
In July the firm launched a ‘bridge-to-let’ product for borrowers planning to refurbish a property before exiting to a buy-to-let mortgage.
The firm has now secured a total of £539.5m in funding, which has included £200m in debt financing form HSBC UK earlier this year, and £30.5m in Series C investment from tech investors Atomico in 2018.
It was recently listed as one of BusinessCloud’s 101 FinTech Disrputers.
Christian Faes, co-founder and CEO of LendInvest span the company out of his earlier venture, bridging loan business finance lender Montello.
He has also been an early investor in FinTech start-ups including Onfido, Crowdcube, Seedrs, and Plentific.
“We’ve now raised almost £2bn in debt and equity for LendInvest, and in many respects we’re just getting started,” he 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 founding for our business from NAB is a great example of how the world’s leading financial institution are partnering with the world’s leading FinTech business – – and we’re proud to be announcing this partnership today between NAB and LendInvest.”