LendInvest receives £17m series-B from Atomico
LendInvest, a UK-based online market place for property finance, has raised £17m in a series-B round from Atomico.
The investment follows LendInvest's £22m series-A round, which closed in June 2015. The fresh capital will be used to further the company's technology.
As part of the deal, Atomico co-founder Mattias Ljungman has joined LendInvest's board.
Company
Established in 2013, LendInvest operates an online peer-to-peer platform for property loans for landlords and developers. For lenders, the company claims to deliver an annual return of 5%. Loans are secured by a registered first charge against the UK property.
The company has so far lent £560m to finance 2,100 properties in the UK. For 2015, the company reported profits of £3.1m.
People
LendInvest – Christian Faes (co-founder, CEO).
Atomico – Mattias Ljungman (partner).
Advisers
Company – GP Bullhound, Claudio Alvarez (corporate finance).
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