LendInvest has struck partnerships with HSBC and Barclays that will see the banks provide funding for short-term mortgages through the property finance firm’s digital platform.
The lending partnerships are reportedly worth £150 million and follow LendInvest’s £255m initial public offering on the AIM index.
LendInvest connects funders and investors including high-net-worth individuals and institutions such as pension funds, insurers and global banks with the property industry.
Funders and investors provide a range of mortgages via a digital platform that simplifies and speeds up the financing process. LendInvest says it has overseen the lending of more than £3 billion since 2008, with a significant leap from £375 million in 2017.
CityAM reports Rod Lockhart, chief executive officer of LendInvest, as saying that the partnerships with HSBC and Barclays add to the momentum the firm has been gathering over the past 12 months.
He said: “There is a real recognition that the technology and platform we have built allows institutions to access the highest quality assets in the market.”