June 4, 2019

LendInvest reports fifth consecutive year of profitable growth

London, 4 June 2019 – LendInvest, the marketplace for property finance, has reported a period of strong growth and significant operational and strategic progress for the year ended 31 March 2019.

Christian Faes, Co-Founder & CEO of LendInvest, commented:

“LendInvest has notched up yet another year of profits, showing again that you can be a fast growth Fintech business, make a substantial investment in disruptive technology, and be a profitable business.

“We have made a big move into longer term lending with our Buy-To-Let product, and are taking market share from the banks with our product that is proving very popular.

“LendInvest continues to receive the backing of some of the world’s leading financial institutions. In the last year we secured substantial investment from pension funds, global banks such as HSBC, and a fund set up by the European Investment Fund, which is in turn a part of the European Investment Bank Group.

“The UK mortgage market is dominated by banks which are slow moving, suffocated by ever changing regulation, legacy processes, and technology from the 80’s. This £300 billion market represents a significant opportunity and it is LendInvest’s mission to disrupt it.

“These results show that we are well on our way to building a business that is going to be a substantial player in the UK mortgage market in the years ahead.”

Financial highlights:

  • Platform revenue1 increased 36% to £72.7m (FY18: 53.6m)
  • Platform EBITDA2 up 82% to £4.0m (FY18: £2.2m)
  • Platforms assets3 up 69% to £788.3m (FY18: £467.6m)

Business highlights:

  • Continued successful execution of our technology-driven growth strategy, leading to more than £2 billion in cumulative platform originations to date
  • New Buy-to-Let product well-received by the market; £127.9 million originated in the six months to 31 March 2019
  • Continued growth in demand for our bridging and development products
  • LendInvest’s first homeowner loan product will launch in 2019
  • New funding totalling more than £500 million secured from mixture of investors and financial partners, including £200m funding line from HSBC to support the launch of the homeowner loan product
  • 57% of platform originations for short-term loans were to borrowers who have used LendInvest before, demonstrating the benefit of our resilient customer-focussed model
  • Continued investment in the advanced technology that sits at the heart of what we do
  • Already driving operating leverage and profitability

 

Note to Editors

LendInvest’s independently audited Annual Reports since 2015 are available to read or download at www.lendinvest.com/media-centre-reports/.

 

1 Platform revenue represents unaudited gross management accounts revenue

2 Platform EBITDA represents unaudited gross management accounts EBITDA

3 Platform assets represent unaudited gross management accounts loans and advances

About LendInvest

LendInvest is the UK’s leading platform for property finance.

LendInvest offers short-term, development and buy-to-let mortgages to intermediaries, landlords and developers. Its proprietary technology and user experience are designed to make it simpler for both borrowers and investors to access property finance.LendInvest has lent over £3bn of short term, development and buy to let mortgages.

Its funders and investors include global institutions such as HSBC, Citigroup and NAB, and, in 2019, it was the first Fintech to securitise a portfolio of BTL mortgages. The company has reported annual profitable growth since 2015 and was named Digital Innovation Award Winner at the Sunday Times Tech Track 100 Awards, and both Specialist Lender and Buy-to-Let Lender of the Year for 2019 at the last NACFB awards.

Media contacts

LeighRimmer

Leigh Rimmer

PR Manager
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