LendInvest bags £500m in funding from JP Morgan
Property financing and investment platform LendInvest has secured a £500m investment from JP Morgan.
The fresh cash will be used for LendInvest’s future mortgage originations and comes after LendInvest sold a £125m mortgage portfolio to JP Morgan in September of last year.
Christian Faes, executive chairman, founder and former CEO of LendInvest, told AltFi: “To be able to pull something like this off in this era, with Covid-19, it is a big stamp of credibility on the business.”
“The business is performing exceptionally well and so we’re really excited about the future and this is a good symbol of the support we’ve got from really credible institutions in the market. I mean you can’t get much of a bigger name than JP Morgan!”
Although the Covid-19 pandemic certainly threw a spanner in the works, LendInvest has continued to lend at record rates, dishing out more than £3.5bn to date.
Eric Wragge, managing director in securitised products at JP Morgan, added: “There’s a huge amount of innovation going on in the UK fintech space, which is taking place both in spite of, and in response to, the broader context of the Covid-19 pandemic.”
“LendInvest is an exciting business with ambitious plans for the future, and our Securitised Products team has been pleased to work with them to provide capacity for over half a billion pounds of new mortgage lending.”
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