Mortgage marketplace and property investment platform Lendinvest has secured up to £200m in funding from HSBC in order to launch its home loan product this year.
The new funding will allow the London-based firm, which launched in 2008, to enter the regulated home loan market for the first time as it targets becoming a whole-of-market mortgage provider.
Lendinvest’s new product will be available to homeowners that require short-term bridging finance for terms up to 12 months.
The fintech firm also allows investors to back its mortgages through its co-investment platform, discretionary fund and £500m London Stock Exchange-listed bond programme.
Christan Faes, co-founder and chief executive of Lendinvest, said: “Lendinvest continues to attract investment on to our platform from some of the world’s largest and most sophisticated investors.
“This new funding from HSBC is a further important step forward in the evolution of our business.
“We have shown to great effect how our technology driven-approach to lending can succeed in the specialist loans markey.
“Our sights are now firmly set on continuing to build out our platform and on ultimately disrupting the £200bn mainstream UK mortgage market.”
Lendinvest has lent more than £2bn to borrowers to date and is backed by Citigroup and Nomura, as well as a number of UK challenger banks.