Real estate lending platform Relendex has closed an equity fundraising round.
Relendex has raised an undisclosed sum of money from 3S Investments Ltd. While the specifics of the fundraise have been held back, we’re told that the platform is now “fully capitalised” for the foreseeable future. The proceeds of the fundraise will be used to strengthen the company’s balance sheet and to launch a series of investor-facing marketing initiatives. Relendex CEO Michael Lynn tells us that the platform – which has been around since 2013 – has to date struggled to scale owing to a shortage of investor demand. But with a strong pipeline of investment opportunities in place, Lynn now believes that Relendex is poised for growth.
3S Investments is a UK investment vehicle backed by Andrei Dikouchine, Ivan Zhiznevskii and Stan Zablotskiy. Dikouchine is joining Relendex as an Executive Director, with Zhiznevskii appointed to the board as a Non-Executive Director. Dikouchine has served stints at Citi bank, Deloitte and KPMG, and is a visiting lecturer at the London Business School. Tom Quigley – Founder of Cloudberry Corporate Advisers – has also joined the board as an NED. Quigley was formerly a founding shareholder and Chairman of Sancus, the Channel Islands based lender which was sold to GLI Finance for £37m in 2014.
Relendex specialises in sourcing investment, development and bridging loan opportunities, on behalf of a community of retail investors. Dikouchine tells us that he sees secured lending against property as the most attractive niche within the wider world of peer-to-peer lending. 3S Investments will be working to bring a huddle of high net worth investors to the Relendex platform over the coming months.
Mr. Lynn offered comment: “Today’s deal is a double win for Relendex Limited; not only have we secured funding to drive further innovation of our offerings but we have also added to our team several high profile talented individuals with international experience.”
Join AltFi for its third annual Alternative Income Forum, exploring closed-ended funds (investment trusts) specialising in generating an income using alternative assets such as specialist finance, P2P lending, direct lending, asset leasing and more. Hear from the leading investors and fund managers in this rapidly growing market.