Since its launch, LendInvest has raised over £1.8bn of debt and equity from investors, making it one of the larger non-bank mortgage lenders in the country.
This new funding will expand the company’s capacity to lend in the UK buy-to-let market. LendInvest launched its first buy-to-let mortgage product in late 2017 after agreeing a funding line with Citigroup. It has already lent more than £370m in buy-to-let loans and in June this year, became the UK’s first fintech business to securitise its own portfolio of assets worth £259m.
NAB joins a growing roster of global financial institutions choosing to invest in LendInvest’s secured property loans, including banks such as HSBC, Citigroup and Nomura.
Christian Faes, co-founder and CEO of LendInvest, said: “We’ve now raised over £1.8bn in debt and equity for LendInvest, and in many respects we’re just getting started. We have dominated in the short-term mortgage market for years, and we’re now bringing our technology and growing distribution footprint, to take market share in the longer-term mortgage market.”
James Versmissen, associate director at National Australian Bank, added: “NAB is delighted to work together with LendInvest and play a role in achieving its growth plans.”
This news comes after LendInvest announced a separate £200m funding line with HSBC UK earlier this year, to enter the regulated homeowner loan market for the first time.