A peer-to-peer (P2P) mortgage lender has announced a new funding round worth £40m.
The firm has signed a warehouse financing deal with investment bank Macquarie.
LendInvest said the £40m, used to fund mortgages via its website, will allow it to grow and consolidate its position in the UK short-term mortgage market.
The Macquarie facility is LendInvest's fourth bank funding line, bringing the company's total investment by UK and international institutions to more than £230m.
Christian Faes, who founded LendInvest with Ian Thomas, said the warehousing line will “assist us as we move towards being able to securitise our assets for institutional investors”.
He said: “LendInvest is creating the most diverse capital base of any mortgage lender in the market which is a key differentiator for our business.
“By welcoming another significant institution and funding line to our business, we are putting in place the foundations for a very scalable move into longer duration lending and ultimately the mainstream UK mortgage market.”