The transaction was completed with an undisclosed global alternative investment manager. 

LendInvest will use the proceeds from the transaction to refinance an existing short-term, buy-to-let (BTL) and residential mortgages funding facility.

At the start of this year, LendInvest said it was on track to return to profitability following a securitisation worth £5m. 

In its trading update published in April, the lender said its efforts were paying off, as it reported an improved financial performance in the second half of its financial year. 

This was attributed to growth within its mortgage division. 

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LendInvest board changes 

LendInvest also announced changes to its board today, with the departure of Penny Judd, independent non-executive director and chair of the audit and risk committee. 

She is leaving to focus on other directorships and commitments. Her resignation will take immediate effect. 

Judd has been replaced by Maeve Byrne, who will also become a member of LendInvest’s nomination and remuneration committees. 

Byrne has over 30 years of experience in financial services, including roles at Royal Bank of Scotland and KPMG. 

Nina Spencer and Dale Murray, both independent non-executive directors, have also notified their intention to not seek re-election by shareholders at the company’s Annual General Meeting (AGM) in September 2024 in order to devote more time to their business engagements and other directorships. 

The LendInvest board remains otherwise unchanged. 

Rod Lockhart (pictured), chief executive at LendInvest, said: “I want to personally thank Penny, Nina, and Dale for their dedication and invaluable contributions to LendInvest during this crucial phase of change and growth over our first three years as a public company. Their collective experience and support have been instrumental in shaping our progress, and we wish them every success in their future endeavours. 

“We are delighted to welcome Maeve to the LendInvest board. Maeve brings a wealth of experience and deep insight that will be of significant value to the company as we continue on our path back to profitability.” 

Byrne added: “I am delighted to join the LendInvest board at such an important time for the company. I’m impressed by the management team and eager to bring my experience to help navigate the evolving financial landscape, guide LendInvest toward continued success and help support the business in the next stage of its growth journey.”