PEER to peer lender Wellesley Finance has today launched a £100m mini-bond to finance new loans.
The company, which launched in November, lends against secured real-estate assets and has lent around £50m since it launched last year.
The fundraise is twice the size of the largest mini-bond to date, John Lewis’s £50m issued last year.
Mini-bonds are a form of retail bond but they cannot be traded and do not have to disclose detailed risks to investors.
Wellesley Finance said the cash raised will be used to make investment in property and other secured investments
“The launch of our mini-bond is an important milestone for Wellesley as it will allow us to significantly increase the number and value of loans that we can offer, as well as diversifying our sources of funding,” Wellesley co-founder Graham Wellesley said.