Property development focused platform Relendex is aiming to hit £100m of lending next year.
Peer-to-peer (P2P) property lender Relendex has secured a partnership with a global institutional investor worth a minimum of £72m over 2 years.
Relendex will be provided with a minimum of £3m per month to invest in loans secured on property in England and Wales, the firms says.
The institutional partner, whose name has not been disclosed, will fund Relendex’s lending to developers up to £10m per project.
The platform says it is increasingly confident of achieving its lending target of £100m in 2019 following the news.
“This investment is a validation of the six years hard work that has gone into building a company that can make a significant difference to the funding of UK property.”
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.