Property lending platform lends half a billion pounds in 2017.
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.”