Landbay closes funding round on Seedrs

By Moriah Costa on Monday 21 August 2017

Alternative Lending

The peer-to-peer lender raised more than £2.4m.

The peer-to-peer lender raised more than £2.4m.

Buy-to-let mortgage lender Landbay has raised more than £2.4m on crowdfunding site Seedrs as it expands its lending capabilities.

“This was a bridge round funded by existing investors,” said Gray Stern, co-founder and chief commercial officer at Landbay. “The funds will enable us to continue to expand our operational capacity as we ramp up lending, as well as launch new mortgage and investment products.”

The firm has raised more than £7m to date. This is the third round for the firm, with the last one coming in March 2016. The fundraise, which launched in March, valued the firm at £18.3m and had a target of £1.5m.

Landbay received full authorisation in December of last year and launched its Innovative Finance ISA in February. 

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