Lendable lands £200m Goldman Sachs funding line

By Roger Baird on 16th July 2019

P2P/Marketplace Lending

The consumer lender adds the New York powerhouse to its impressive list of institutional investors.

Lendable lands £200m Goldman Sachs funding line
Image source: Company supplied

 

Lendable has secured a £200m funding line from Goldman Sachs Private Capital as the consumer lender continues to attract institutional finance.

The London-based consumer lending platform landed the forward flow funding transaction from the New York investment bank, to continue to fund online loans to consumers in minutes using machine learning technology.

Lendable chief capital officer Rory McHugh said: "We believe Goldman Sachs and the Luxembourg fund we are launching later in the summer will perfectly complement our existing funding partners as we continue to see significant opportunities for growth."

Luxembourg is the second largest fund investment market in the world after the US, holding €2.4trn under management, with investors taking advantage of the unified European single market, as well as the country’s flexible regulations and low taxes on funds. 

 

Summer fund

Last month, Lendable founded in 2014, secured funding arrangements worth £500m from new and existing backers.

The capital came from existing investor Waterfall Asset Management, along with NatWest Markets and Varadero European Special Opportunities, who are providing cash to Lendable for the first time.

It said at the time would launch a £150m closed-end fund over the summer, working with a currently unnamed global investment bank that will provide senior financing.

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