LendInvest is a British non-bank mortgage lender which provides a property lending and investing platform.[1][2][3] As an alternative fintech lender in the property market, LendInvest provides finance to property professionals and small and medium-sized businesses (SMEs) around the UK.[4][5][6][7] It also makes it possible for individuals, corporates and institutions to invest in secured property loans originated and underwritten by its mortgage team.[8]
 | |
| Company type | Public |
|---|---|
| AIM: LINV | |
| Industry | Fintech |
| Founded | 2013 spun out of Montello |
| Headquarters | , |
Key people | Rod Lockhart, CEO Christian Faes, Executive Chairman & Co-founder Ian Thomas, CIO & Co-founder |
| Products | Residential and commercial mortgages Investment platform |
| Services | Financial services |
| Website | lendinvest |
LendInvest operates throughout the UK with staff based regionally covering Southern England, Northern England and Scotland.[9] LendInvest is a leading FinTech companies in the UK.[10][11]
LendInvest was launched in 2013 when it was spun out of Montello,[12] a London-based specialist short-term property finance lender. LendInvest is a publicly listed company and is backed by Atomico, the European venture capital investment fund co-founded by Niklas Zennström, which invested £17 million in the company in March 2016.[13][14]
History
editSince 2015, LendInvest has published an independently audited Annual Report on its website.[15] In the year to 31 March 2017, LendInvest reported 20% revenue growth to £40 million and an underlying profit from operations of £2.6 million.[16]
In February 2017, LendInvest published a report entitled "Starting small to build more homes: A blueprint for better policymaking in the property SME market",[17] that revealed that SMEs in the housebuilding sector have been failing at alarming rates,[18] and argues that the government could help to resolve the country's chronic housing shortage by rebooting its strategy to help smaller property firms.[19] The report was formally launched on 21 March 2017 by Conor Burns MP.[20]
In June 2017, LendInvest received a third SQ1 Servicer Quality Rating from European ratings agency ARC Ratings.[21] ARC Rating assesses the process used by LendInvest to originate, underwrite and service property loans.[22]
In September 2016, LendInvest launched the LendInvest Property Development Academy,[23] a non-profit two day course for aspiring property entrepreneurs to learn how to better equip themselves with the skills they need to grow their property development portfolios.[24] Academy courses are held in London, Manchester, Edinburgh, Bristol and Birmingham.[25] The Academy was launched in collaboration with the University of Reading[26] and is supported by the Home Builders' Federation.[27] The initiative was attended by the Scottish government in June 2017 when Minister for Housing Kevin Stewart MSP launched the Edinburgh course.[28]
In November 2017, LendInvest launched into the UK Buy-to-Let market[29] and in June 2019 became the first Fintech to securitise its own assets in a £259 million securitisation of Buy-to-Let loans.[30]
LendInvest became a public company in July 2021, listing on the London Stock Exchange's AIM.[31]
Products
editLendInvest provides short-term financing options, and Buy-to-Let mortgages for UK-based property investors.[32]
On 10 August 2017, LendInvest launched a listed retail bond on the London Stock Exchange.[3] The process to raise LendInvest's first retail bond was closed early and oversubscribed.[33] The retail bond is the first to be issued by a FinTech business and constitutes a fourth funding channel for the company.[33] LendInvest's first retail bond was added by the Daily Telegraph's Questor share tip column to its £500,000 Income Portfolio on 4 August 2017.[34]
References
edit- ^ Morris, Stephen (24 March 2020). "Non-bank lenders push for access to emergency state funding". Financial Times.
- ^ Ratcliffe, Madeline (8 January 2016). "Peer to peer mortgage lender LendInvest hits £500m mark". City A.M.
- ^ a b "LONDON STOCK EXCHANGE WELCOMES LENDINVEST SECURED INCOME PLC". lseg.com/.
- ^ "Lendinvest". The FinTech 50. Retrieved 2017-11-01.
- ^ Finextra (2017-08-10). "LendInvest makes London Stock Exchange debut with £50m raise". Finextra Research. Retrieved 2017-11-01.
- ^ Weeks, Ryan (19 July 2017). "Fintech lender LendInvest to launch retail bond offering". Altfi News.
- ^ "Fintech lender LendInvest to launch retail bond offering - AltFi News". AltFi. Retrieved 2017-11-01.
- ^ "LendInvest launches first retail bond for secured property loans". Wealth Adviser. 26 July 2017.
- ^ "LendInvest hires Andy Virgo as first BDM for Southern England". Business Money. 15 August 2017.
- ^ Smith, Edwin (8 February 2015). "25 fintech companies set for stardom". Raconteur.
- ^ Williams-Grut, Oscar (20 April 2017). "17 fintech businesses that could one day be worth over $1 billion". Business Insider UK.
- ^ Allen, Kate (22 September 2014). "Is peer-to-peer a new home for UK property finance?". Financial Times.
- ^ "Companies house". Companies house.
- ^ Palmer, Kate (14 March 2016). "Skype co-founder Niklas Zennström buys £17m stake in peer-to-peer lender". Telegraph.
- ^ Hurst, Samantha (18 January 2016). "P2P Lending Platform LendInvest Publishes Annual Report". Crowdfund Insider.
- ^ Bambrough, Billy (7 October 2016). "Alternative mortgage lender LendInvest posts a 133 per cent rise in revenue as profit flattens out". City A.M.
- ^ "LendInvest publishes a blueprint for change to government treatment of property SMEs". Housebuilder & Developer. 6 March 2017.
- ^ Rothstein, Matthew (7 March 2017). "Turning Around Housebuilding SMEs Might Be The Key To Recovery In The Sector". Forbes.
- ^ Faes, Christian (7 March 2017). "Entrepreneur housebuilders have been crushed: We must bring them back to life". City A.M.
- ^ "Conor discusses housebuilding". Conor Burns. 19 April 2017.
- ^ "LendInvest receives highest rating from European ratings agency | Mortgage Introducer". Mortgage Introducer. 2017-06-29. Retrieved 2017-11-13.
- ^ "LendInvest receives highest rating from European ratings agency for third consecutive year". Bridging Loan Directory. 2017-06-29. Retrieved 2017-11-13.
- ^ Lockhart, Rod (6 June 2017). "We must reverse decline of smaller housebuilders". Property Week.
- ^ "What attendees thought of the LendInvest Property Development Academy". Mortgage Strategy. 22 December 2016.
- ^ Shoffman, Marc (23 June 2017). "LendInvest launches Scottish Property Development Academy". Peer2Peer Finance News.
- ^ Lynn, Alex (30 March 2017). "LendInvest's property development academy expands to the North". Development Finance Today.
- ^ Hall, Robyn (20 January 2017). "Home Builders Federation backs LendInvest academy". Specialist Finance Introducer.
- ^ Mackie, Gareth (23 June 2017). "LendInvest launches academy for budding property tycoons". The Scotsman.
- ^ Reporter, Financial. "LendInvest launches into buy-to-let market". Financial Reporter. Retrieved 2021-10-21.
- ^ "LendInvest completes first £259m securitisation as it looks to further take market share from big banks". AltFi. Retrieved 2021-10-21.
- ^ "Stock". www.londonstockexchange.com. Retrieved 2021-10-21.
- ^ "Intermediaries". www.lendinvest.com. Retrieved 2021-10-21.
- ^ a b "LendInvest makes London Stock Exchange debut with £50m raise". Finextra. 10 August 2017.
- ^ Dyson, Richard (28 July 2017). "Questor: With a 5.25pc coupon and a five-year term, this new bond issue is worth a look". The Telegraph.