Relendex Limited, a peer to peer lender in the commercial and residential real estate sector, has announced the completion of a rights issue and a new round of financing from new investors. The company said the proceeds will be used to allow further investments in new technology and services in the Fintech space. The latest investment places the company at a £6 million post-money valuation on a fully diluted basis.
“We are constantly improving the platform functionality and the services we offer to our customers. Our focus is now on creating a Payment Gateway, AutoLending and the development of a Mobile App,” said Michael Lynn, founder and CEO of Relendex. “With more than £10 million of loans written to date and a pipeline of £20 million and no defaults to date, Relendex become one of the few peer-to-peer lending platforms who have launched the Innovative Finance ISA in May 2016.”
Relendex launched in 2013 is fully authorized and regulated by the Financial Conduct Authority.