The fintech property lending platform has welcomed new investors GP Bullhound and Tiger Management.
The £30.5m Series C debt and equity round brings in new investors GP Bullhound and Tiger Management. The former, a technology-focused investment bank, invested via a fund. Tiger is a hedge fund and family office founded by prominent US investor Julian Robertson.
LendInvest claims, through a combination of all its fundraising efforts, to have raised well over £1bn to date. Indeed, the firm secured another £150m in lending capital from Nomura and Magnetar earlier this month.
Christian Faes (pictured), co-founder and CEO of LendInvest, said in a statement: “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.”
Faes has never shied away from talking up of the prospects of an IPO, but the timing of any float will surely be closely linked to the performance of fellow fintech lender Funding Circle. The business lending specialist is set to go public on the London Stock Exchange in October. It is aiming for a raise of around £300m at a valuation of roughly £1.5bn.
It is in this context that Faes’ continued comments on his own fundraise should be read: “The funding round was done at a sensible valuation, which doesn’t set us up for failure, and my co-founder and I still own approximately 70% of the company. There are also no quirky liquidation preference stacks that seek to distort true valuations. We are a straightforward player, and we’re building a big business for the long term.”
Now in its sixth year, the AltFi London Summit returns on 18th March 2019 to 155 Bishopsgate. Last year proved to be a crucial turning point for the key players building the future of finance. Leading platforms launched oversubscribed IPOs, digital banks proliferated and mainstream financial institutions started their own disruptive propositions. With 2019 certain to be another landmark year, more questions will be asked by regulators with investor interest in disruption also poised for more rapid growth.