P2P online mortgage platform LendInvest raises £17m

Christian Faes & Ian Thomas - LendInvest

LendInvest, a peer-to-peer online mortgage platform, has closed a £17m Series B funding round from Atomico, the tech VC firm founded by Niklas Zennström, Skype’s co-founder.

The raise, which brings the company’s total institutional funding to over £200m, comes after the company announced a £22m Series A round from Beijing Kunlun, a Chinese technology firm.

Christian Faes, co-founder & CEO of LendInvest commented: “To receive this backing from Atomico is an awesome opportunity for LendInvest. Atomico is a rare example of a VC firm whose founder has first-hand experience of building a multi-billion dollar, fast growth technology company, and that was hugely attractive to us.

“We have only scratched the surface of how technology will make mortgages a better, faster and more transparent consumer experience for borrowers and investors,” added Faes.

Founded in 2013, LendInvest claims to have lent £560m to help finance 2,100 properties across the UK and says it will use the newly secured funds to extend its lead in the property finance market.

Mattias Ljungman, partner at Atomico, commented: “We’re impressed with Christian and Ian’s vision and ambition to disrupt the established lending industry. Their lending and borrowing marketplace is bringing speed, efficiency and transparency to a traditionally cumbersome process.

“We’re excited about working with the team to ensure that their great product is underpinned by the best technology, and to take their business to the next level,” he concluded.