One of the leading online property finance platforms called LendInvest has finally closed at 39.5 million dollars with regards to the Series C funding round that is going to be comprised of both equity and debt. This particular funding has been in the process all throughout the summer. It can be viewed as a method to position the UK based company for an IPO which stands for Initial public offering at a certain point in the near future. The company states that the Atomico led the whole round along with the help of new investors including GP Bullhound and Tiger Management.
The Series C is known to follow the last round worth 17 million pounds in the month of March 2016. LendInvest states that this is what enabled the platform in order to accelerate the investment in the technology field and then being able to enter the UK BTL market. The company has raised a total capital of around 1 billion pounds which is supposed to be growth capital.
The CEO and co-founder of the company Mr. Christian Faes state that the raising of the capital was not absolutely necessary in order to fund out the ongoing operations due to the fact that the firm actually has been profitable for quite some time now. Faes further states that the funding is all about beefing up the balance sheet in order to position the company better for any future opportunities.
He further states that the funding rounds are being done at a sensible valuation which does not really set the company for any kind of failure. He states that his co-founder along with himself still own around 70 percent of the total company still. He states that there are no quirky liquidation preference stacks that will seek to distort or change any true valuations. He further states that the company is a straightforward player which is building up a big business especially for the long term.
Faes further states that by using the technology the company will be building a completely new type of financial servicing firm. The firm is also going to be extremely scalable.
He states that it feels great to receive help and backing from Atomico who are known to have been great partners in the business. They are the ones to have brought out the new investors in Tiger and GP Bullhound who are also helping in achieving their ambition.
The company is known to be a leader in the mortgage sector in the UK having multiple products including bridge finance, BTL, and development finance. Till date, the company has lent a total amount of more than 1.94 billion dollars towards 5000 UK properties.
One of the partners at Atomico Mr. Mattias Ljungman states that they are actually impressed with the company’s ability in dealing with and disrupting the established lending industry.
He states that their company is excited to work along with LendInvest due to a high growth trajectory. He is looking forward to seeing what the future holds for this particular business.