LendInvest reports lending up by 91% to £536m – results

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  • 03/07/2018
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LendInvest reports lending up by 91% to £536m – results
Self-styled marketplace platform for mortgages Lendinvest reported a spike in lending, due to its digital buy-to-let lending platform to March 2018.

 

 

Following its annual results, Christian Faes, co-founder and CEO of LendInvest, said: “As LendInvest continues to move towards the mainstream mortgage market, we are showing that the investment we’ve made in our proprietary technology is providing an unrivalled platform for growth.

“As we move into the buy-to-let (BTL) market, we’ve been able to leverage our brand within the specialist mortgage market, our distribution channels, and most importantly our technology, all of which give us a substantial edge. We have lent more buy-to-let finance in the first few months since launch than we did during our first full four years in business.

“LendInvest is proving that you can be a fintech business that makes a substantial investment in building technology, uses that as a competitive advantage, and all the while builds a scalable and profitable business. We almost doubled the size of the business last year, with only a relatively negligible increase in our headcount, and importantly remaining profitable which we’ve consistently done for the last four years.”

The lender increased revenue to £53m and its profit before tax was £1.9m marking Lendinvest’s fourth consecutive annual profit. Meanwhile, its lending capital grew 94% to £791m.

This year, the lender launched its first buy-to-let product with a fully digital application process, supported by a warehouse facility from Citigroup.

Last year the lender listed its first tranche of a £500m retail bond programme on the London Stock Exchange (LSE) with £90m raised to date.

Today, LendInvest manages over £820m on behalf of all types of investors who have lent almost £1.4bn of mortgage finance throughout the UK.

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