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.
“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.”
Since the launch of our BTL product in November 2017, we have so far lent more than £370 million in Buy-to-Let loans through our online platform, providing a superior paperless experience for our brokers and borrowers.
Earlier this summer, LendInvest became the UK’s first FinTech business to securitise its own portfolio of assets worth £259 million.
HM Treasury supported the deal, and the ongoing backing from global institutions for the UK’s FinTech sector.
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 roster of global financial institutions that invest in our loans, including banks such as HSBC, Citigroup and Nomura.