Another milestone for LendInvest

By Ryan Weeks on 4th January 2018

P2P/Marketplace LendingProperty

Property lending platform lends half a billion pounds in 2017.

Another milestone for LendInvest

LendInvest has rounded off a strong 2017 with the announcement that it lent half a billion pounds during the course of the year. That sum has gone towards building or renovating around 1,800 homes.

The £500m marks a 33 per cent increase on the £375m that was lent in the previous year. LendInvest has been racking up milestones of late, on occasion skipping between currencies to do so. The company hit $1bn in funds under management in December, after a frantic year of fundraising.

Milestones aside, 2017 was a big year for LendInvest. The company pivoted away from its direct retail investment model in May, later launching a successful retail bond on the London Stock Exchange. It then entered the buy-to-let space in November, shortly after having secured a long-term warehouse funding deal with Citi.

“Surpassing the £500 million milestone for annual lending was a great way to close off a fantastic year for the business,” declare Christian Faes (pictured), co-foudner and CEO of LendInvest. “Despite an unexpected snap General Election in June and the continued weight of Brexit negotiations on the general economy, we are just as confident as our customers in the resilience of the professional property investment market. Demand for high quality lending products has not wavered. We expect to see this appetite increase again in 2018, as we further consolidate our dominant share of the short-term lending market and rapidly roll out our buy-to-let loan offering.”

LendInvest has lent a grand total of £1.34bn to date, according to AltFi Data. 

Comments

Brian Holt

08 Jan 2018 02:42pm

I agree with all of Roger Nasey's comments and add that Lendinvest's checks on borrowers appears worse than any of the other P2P platforms that I lend through. Of 31 live loans 4 are "Out of term/In breach" and another borrower has just been granted an extension because they can't pay within term! Lendinvest appear hell bent on pursuing bigger corporates with little regard for private lenders who were vital to their early stage growth.

Roger Nasey

06 Jan 2018 10:45am

All sounds rosy for Lendinvest, but the interest rates are not what they were. Regular 8% once but now you are lucky to see more than 5% offered. Seems like they may be abandoning their original P2P investors as they engage with the more traditional finance industry no doubt also increasing their profits. Call me a cynic but I bet IFAs can get a commission on selling the bond to unsuspecting investors.

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