LendInvest sees revenues rise 133%

LendInvest sees revenues rise 133%

London fin-tech firm LendInvest has reported its third year of consecutive growth after seeing revenue increase by 133%.

LendInvest is one the UK’s leading online lenders for short-term property finance. The company was spun out of Montello Bridging Finance, the established bridging finance provider, back in 2013.

The company has since gone from strength-to-strength and during the 12 months ending 31 March, saw revenues rise 133% to £32m (£14m:2015) and profits hit £3.4m (£3.3m:2015).

The company has also reported a strong start to its 2017 financial year with performance proving resilient to the uncertainty created nationwide by the UK’s decision to leave to EU.

Christian Faes, co-founder and CEO of LendInvest, said: “At LendInvest we’ve worked very hard to create a marketplace business that provides a great proposition for borrowers and a good investment for investors. However, we’ve also worked extremely hard to scale the business in a profitable, financially viable way.

“Lending and investing money is a serious matter. These financial results clearly spell out that LendInvest is a FinTech company that’s built on solid foundations, is financially stable, and is going to be around for the long haul.

“In light of the headwinds that the Brexit vote has caused for the UK’s economy, it’s been particularly rewarding to see customer demand for our products still growing and we look forward to building on this positive momentum in the next year.

“We may be growing fast, but we’re doing so sensibly. We have invested heavily in recruitment, technology development and underwriting expertise to keep our credit standards high and defaults low. Yet, despite the outlay of investment, we remain very well-capitalised with a balance sheet that’s well equipped for organic and opportunistic growth.”

Today, LendInvest manages almost £300m on behalf of individual and institutional investors and has lent in excess of £750m to professional property investors and developers across the UK.

 

 

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