LendInvest’s 2017 Financial Year Results Report Strong Growth & Remains Profitable

UK marketplace platform for mortgages, LendInvest, announced on Tuesday its 2017 financial results, with the year ending on March 31st. The platform reported that the results revealed strong growth across all key metrics.

LendInvest revealed that it currently manages more than  £820 million ($1.1 billion) on behalf of all types of investors who have lent almost £1.4 billion ($1.85bn) of mortgage finance throughout the UK. While sharing more details about the year’s results, Christian Faes, Co-Founder & CEO of LendInvest, stated:

“As LendInvest continues to move towards the mainstream mortgage market, we are showing that the investment we’ve made in our proprietary technology is providing an unrivalled platform for growth. As we move into the Buy-to-Let (BTL) market, we’ve been able to leverage our brand within the specialist mortgage market, our distribution channels, and most importantly our technology, all of which give us a substantial edge. We have lent more BTL finance in the first few months since launch than we did during our first full four years in business.”

Faes also commented:

“LendInvest is proving that you can be a FinTech business that makes a substantial investment in building technology, uses that as a competitive advantage, and all the while builds a scalable and profitable business. We almost doubled the size of the business last year, with only a relatively negligible increase in our headcount, and importantly remaining profitable which we’ve consistently done for the last four years.”

2017 Financial highlights:

  • Total loan originations up by 91% to £536 million

  • Revenue increased to £53 million

    • Profit before tax was £1.9 million, marking LendInvest’s fourth consecutive annual profit from operations

  • Lending capital grew 94% to £791m

2017 Business highlights:

  • Total homes funded grew 229% to 2109

  • Listed the first tranche of a £500m retail bond programme on the London Stock Exchange which was oversubscribed and closed early; £90 million raised to date

  • Launched first Buy-to-Let product to have a fully digital application process; supported by a substantial warehouse facility from Citigroup

In regards to his expectations for the upcoming year, Faes shared with Crowdfund Insider:

“In the year ahead we will continue tor forge our way into the mainstream mortgage market, with our Buy-To-Let product. We can see that this is a very deep market, and that the technology and platform we have built, is able to scale very well into this area. I personally expect that we will be able to continue to be a high growth FinTech business, and prove that its possible to be that and profitable at the same time.”
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