Peer-to-peer lending platform LendInvest has agreed a £40m warehouse financing facility with global investment bank Macquarie.
In a move that seemingly signals further collaboration between traditional banks and FinTech startups, the deal will give LendInvest access to £40m to fund mortgages with.
The news, which comes after LendInvest’s £17m raise in March, brings its total investment by UK and international institutions to over £230m.
Christian Faes, co-founder and CEO of LendInvest, said: “LendInvest is creating the most diverse capital base of any mortgage lender in the market which is a key differentiator for our business. By welcoming another significant institution and funding line to our business, we are putting in place the foundations for a very scalable move into longer duration lending and ultimately the mainstream UK mortgage market.
“Macquarie is a leading global financial institution with a proven deep knowledge of the UK mortgage market. We look forward to working with the Macquarie team as we expand our product range with longer term loans that are attractive to them and other capital market investors. This warehousing line will assist us as we move towards being able to securitise our assets for institutional investors,” he added.
Founded in 2013, LendInvest also raised £22m in funding from Beijing Kunlun, a listed Chinese technology company, in June last year.