The London-based proptech start-up has closed its sixth successful crowdfunding campaign after raising £1.6m from 278 investors.
Landbay, one of the first ever businesses to successfully raise investment through Seedrs, has closed its sixth investment round on the platform.
The specialist mortgage marketplace lender has raised £6.5m in total since its inception and provided the opportunity for investors to participate via Seedrs in each funding round.
Landbay, whose backers include Zoopla, direct-matches retail and institutional investors’ funds into buy-to-let mortgages, using peer-to-peer technology.
Quickly establishing itself as an innovative and responsive lender in the buy-to-let space, Landbay recently surpassed £100m of mortgages funded to date with zero arrears. Over 25% of this was in the last three months, demonstrating the startup’s impressive growth.
Landbay joined forces with Seedrs for the first time in 2013, raising £71,590 at a pre-money valuation of £616,667. Six funding rounds and 796 unique investors later, the company has raised £1.6m at a pre-money valuation of £28.9m in its latest funding round.
John Goodall, CEO of Landbay, said: “The fact that we have worked with Seedrs on every funding round since 2013 demonstrates our commitment to the crowd for their unwavering support.
“The first four years of the business have been spent building a strong foundation and the investment we have received through the platform has played a big part in this.
“Investment from this round will be used to continue to grow the business as we expect to become profitable by the end of 2018.”
Jeff Kelisky, CEO of Seedrs, added: “Landbay is a great example of the positive results possible with equity crowdfunding done properly, how instrumental it can be in the future of early stage businesses, and the positive returns it can generate for investors.
“It has been fantastic to support their journey and contribute to Landbay's ongoing success.”
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