LendInvest secures £200m investment from National Australian Bank
LendInvest has now raised over £1.8bn of debt and equity from investors, making it one of the largest non-bank mortgage lenders in the country.
The funding will allow LendInvest to expand its capacity to lend in the buy-to-let market.
It first entered the space in late 2017 after agreeing a funding line with Citigroup and has lent some £370m to date.
Christian Faes, co-founder & CEO of LendInvest, said: “We’ve now raised almost £2bn 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.
“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 – and we’re proud to be announcing this partnership today between NAB and LendInvest.”
James Versmissen, Associate Director at National Australian Bank, added: “NAB is delighted to work together with LendInvest and play a role in achieving its growth plans.
“This new warehouse facility underlines NAB’s commitment and capability to support lenders that shape the mortgage market of tomorrow.”
The investment has been supported by UK’s HM Treasury with Chris Philp, PPS to the Chancellor of the Exchequer, welcoming LendInvests increased role in the buy-to-let sector.
He 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.”
NAB joins a growing roster of global financial institutions to invest in LendInvest’s secured property loans, including banks such as HSBC, Citigroup and Nomura.