When the British government slowly enters the negotiations to leave the European Union (EU), the clouds hit the UK housing market. However, startups that brought innovation in real estate finance seem to be singing different songs.
Currently, LendInvest, a peer-to-peer platform that connects British buyers and those raising these purchasing funds (which bypasses the traditional mortgage infrastructure), has about $ 30.5 million (about 30.5 million pounds) Series C funding round led by existing investor Atomico GP Bullhound and Tiger Management (Established by hedge fund investor Julian Robertson)
The plan is to use this fund to continue the development of technology and to develop the activities of the traditional (and larger) mortgage sector. The company's spokesperson said at the moment there is no expansion project beyond the UK market.
LendInvest is making an income of about 2.8 million dollars against the total sales of 70 million dollars in the 12 months until March last year, but despite its discreetness, it is currently making a profit.
"After recording the annual profit for four consecutive years, capital procurement was not a necessity of LendInvest, but by strengthening the balance sheet and attracting experienced additional investors, we are in a position to take advantage of future opportunities . ,Said Christian Faes, co-founder and CEO of LendInvest, said in a statement. "By using LendInvest technology, a new type of financial services business and a highly scalable platform have been constructed, the way of financing mortgage loans and the way the business is operated in the UK are changing.
LendInvest did not disclose the rating in this round, but according to Pitchbook data, it was valued at $ 10.32 million in certain circumstances in 2015. At that time, she produced just a quarter of the income she made …
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