LendInvest raises $39.5M to grow its P2P property finance platform
A cloud hangs over the UK housing market as the UK government stumbles slowly through its negotiations to leave the European Union. But startups that are bringing innovative twists to housing finance seem to be singing a different tune. Today, LendInvest, a peer-to-peer platform that connects property buyers in the UK with people willing to finance those purchases (bypassing traditional mortgage lending infrastructure in the process), announced that it has raised around $39.5 million (around £30.5 million) in a Series C round of funding led by existing investor Atomico, which participation also from GP Bullhound and Tiger Management (founded by hedge fund investor Julian Robertson). The plan will be to use this funding to continue to develop its technology and grow business into more the traditional (and bigger) mortgage business. A spokesperson for the company says there are no plans to extend beyond the UK market for now. “Having recorded a fourth consecutive annual profit, raising capital wasn’t a necessity for LendInvest but by beefing up our balance sheet and bringing on some very experienced additional investors, we are well placed to capitalise on opportunities in the future,” said Christian Faes, cofounder and CEO of LendInvest, in a statement.
Tags : INTERNATIONAL