UK marketplace for property finance LendInvest has received £200 million investment from the National Australia Bank (NAB), one of Australia’s largest banks.

The new funding expands LendInvest’s capacity to lend in the UK Buy-to-Let market. LendInvest has already lent more than £370 million in Buy-to-Let loans and is taking market share in the bank dominated market. In June this year, it also become the UK’s first fintech business to securitise its own portfolio of assets worth £259 million.

The business has now raised over £1.8 billion of debt and equity from investors, making it one of the largest non-bank mortgage lenders in the country.

LendInvest launched its first Buy-to-Let mortgage product in late 2017 after agreeing a substantial funding line with Citigroup. It was the first fintech to provide an entirely online experience for Buy-to-Let customers. Its end-to-end, paperless, online platform has alleviated the pain points in the mortgage process for brokers and borrowers, providing instant decisions, a superior experience and fast turnaround times from application to completion.

NAB joins a growing roster of global financial institutions choosing to invest in LendInvest’s secured property loans, including banks such as HSBC, Citigroup and Nomura.

Christian Faes, Co-Founder & CEO of LendInvest, commented: “We’ve now raised almost £2 billion in debt and equity, and in many respects we’re just getting started. We have dominated in the short term mortgage market for years, and we’re now bringing our technology and growing distribution footprint, to take market share in the longer-term mortgage market.

“Securing an additional £200 million of funding for our business from NAB is a great example of how the world’s leading financial institutions are partnering with the world’s leading Fintech businesses – and we’re proud to be announcing this partnership today between NAB and LendInvest.”

James Versmissen, Associate Director at National Australian Bank, added: “NAB is delighted to work together with LendInvest and play a role in achieving its growth plans. This new warehouse facility underlines NAB’s commitment and capability to support lenders that shape the mortgage market of tomorrow.”

This news comes after LendInvest announced a separate £200 million funding line with HSBC UK earlier this year, to enter the regulated homeowner loan market for the first time.