National Australia Bank (NAB) has invested £200m in LendInvest, a marketplace for property finance in the UK.
With the infusion, LendInvest intends to expand its reach in the UK Buy-to-Let market.
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This takes the debt and equity raised by LendInvest to more than £1.8bn.
Commenting on the development, NAB associate director James Versmissen said: “NAB is delighted to work together with LendInvest and play a role in achieving its growth plans.
“This new warehouse facility underlines NAB’s commitment and capability to support lenders that shape the mortgage market of tomorrow.”
LendInvest has lent more than £2bn since its inception in 2008.
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By GlobalDataEarlier this year, LendInvest secured £200m from HSBC UK. The investment was aimed at supporting the platform’s entry into the regulated home loan sector.
The property finance platform intends to launch its first home loan proposition this year.
Other backers of LendInvest include Citigroup and Nomura.
LendInvest co-founder and CEO Christian Faes said: “We’ve now raised almost £2 billion 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.”
