Buy-to-let FinTech lender Landbay has announced a 拢1bn investment from an institutional investor.
The company said it will use the new funding line to grow its buy-to-let lending over the next two years.
CEO John Goodall said the company could not name the institution but 鈥渨ould love to publicly thank them for their vote of confidence especially in a period of significant economic and political uncertainty.鈥�
Founded in 2014, the firm focusses on the professional buy-to-let market and has seen its lending volumes rise by 200 per cent over the last 12 months and has taken an additional office space in London.
The firm recently increased its loan ceiling to 拢2m and its maximum loan term from 25 to 30 years.
鈥淭he 拢1bn funding is coming from a major financial institution, cementing another flagship partnership between traditional finance and FinTech,鈥� said Goodall.
鈥淚t鈥檚 another fantastic example of London鈥檚 thriving FinTech sector, even in the face of political and economic uncertainty.鈥�
鈥淲e have spent the last five years investing in technology, building a platform that we鈥檙e proud of.
鈥淥ur lending volumes coupled with a successful few years of award wins prove that our market model is popular with investors, borrowers, and brokers alike.鈥�